+
Yotta Eyes $463M Nasdaq IPO for AI Expansion
Technology

Yotta Eyes $463M Nasdaq IPO for AI Expansion

Yotta Data Services, a homegrown data centre and cloud computing provider, has filed its final application with the U.S. Securities and Exchange Commission (SEC) to list on the Nasdaq stock exchange. CEO Sunil Gupta revealed this move in an interview with Mint, although he did not disclose the final IPO size. However, a company presentation to the SEC indicated that the listing is expected to generate approximately $463 million in funds.

The final registration form was submitted on 30 December 2024 under its holding entity, Nidar Infrastructure. Gupta highlighted that this will be the first time the company’s promoters will dilute equity behind Yotta. While the exact date of the listing is still pending, the company anticipates regulatory clearance soon.

Founded in 2019, Yotta is backed by the Hiranandani Group and operates two active data centres in Mumbai and Noida. With 32 MW of data centre capacity, it has also secured a partnership with Nvidia for their graphic processing units (GPUs), which are crucial for powering AI infrastructure. Yotta has five more data centre projects in progress, including one in Bangladesh.

Yotta’s enterprise value is pegged at $4.2 billion in its SEC filings. The company reported $44.6 million in FY24 gross revenue, with projections to reach $143.3 million for FY25, a growth of over three times. However, the capital-intensive nature of AI infrastructure and GPU acquisition has kept Yotta in the red, projecting a net loss of $113 million for FY25, which it expects to halve by FY26.

Despite challenges, Gupta remains optimistic, highlighting the U.S. market as a primary revenue driver, with over 70% of their AI deals coming from North America. Listing in the U.S. will help offer regulatory certainty and bolster Yotta's position in the global AI growth trajectory.

Yotta Data Services, a homegrown data centre and cloud computing provider, has filed its final application with the U.S. Securities and Exchange Commission (SEC) to list on the Nasdaq stock exchange. CEO Sunil Gupta revealed this move in an interview with Mint, although he did not disclose the final IPO size. However, a company presentation to the SEC indicated that the listing is expected to generate approximately $463 million in funds. The final registration form was submitted on 30 December 2024 under its holding entity, Nidar Infrastructure. Gupta highlighted that this will be the first time the company’s promoters will dilute equity behind Yotta. While the exact date of the listing is still pending, the company anticipates regulatory clearance soon. Founded in 2019, Yotta is backed by the Hiranandani Group and operates two active data centres in Mumbai and Noida. With 32 MW of data centre capacity, it has also secured a partnership with Nvidia for their graphic processing units (GPUs), which are crucial for powering AI infrastructure. Yotta has five more data centre projects in progress, including one in Bangladesh. Yotta’s enterprise value is pegged at $4.2 billion in its SEC filings. The company reported $44.6 million in FY24 gross revenue, with projections to reach $143.3 million for FY25, a growth of over three times. However, the capital-intensive nature of AI infrastructure and GPU acquisition has kept Yotta in the red, projecting a net loss of $113 million for FY25, which it expects to halve by FY26. Despite challenges, Gupta remains optimistic, highlighting the U.S. market as a primary revenue driver, with over 70% of their AI deals coming from North America. Listing in the U.S. will help offer regulatory certainty and bolster Yotta's position in the global AI growth trajectory.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code