Sify Infinit Spaces Limited's Successful Debenture Listing
Sify Infinit Spaces Limited has achieved a significant milestone by successfully listing its inaugural Non-Convertible Debentures (NCDs). This momentous occasion highlights the company's dedication to enhancing its financial structure and paving the way for future growth in the digital landscape.
Details of the Non-Convertible Debentures
The NCDs, which amount to a total of INR 250,00,00,000, were fully subscribed on their market debut, reflecting investors’ strong confidence in Sify Infinit Spaces’ financial stability and growth plans. These bonds have a maturity period of 15 years and carry an attractive coupon rate of 8.95%.
Ratings and Security
This offering received an impressive AA- (Double A minus) rating from CARE, underlining its solid backing and trust from financial analysts. The NCDs are secured against moving fixed assets and receivables from particular data centers that belong to the company. The proceeds will primarily be used to settle existing bank term loans, thereby strengthening the company’s balance sheet.
Investor Participation
The issue saw considerable participation from notable investors. India Infradebt played an integral role by anchoring the issue with a subscription of INR 75 Crores. Additionally, Kotak Infrastructure Debt Fund and NIIF Infrastructure Finance Limited added INR 140 Crores and INR 35 Crores, respectively, adding to the remarkable total subscription.
Statement from Leadership
Ganesh Sankararaman, Head of Group Corporate Finance at Sify, remarked, "The successful market listing serves as an essential validation from the market. It demonstrates that our banking partners and institutional investors believe in our strategic roadmap and our capacity to emerge as a leading provider of AI-ready colocation services in India." This statement emphasizes the confidence that the market has in Sify's future.
About Sify Technologies
Sify Technologies, a prominent figure in the ICT landscape, is included in the Fortune India 500 list. With its solutions centered around cloud computing, Sify addresses the evolving ICT demands of the emerging digital economy. This position makes it a preferred choice for businesses ranging from startups to large enterprises aiming to transform their operations.
Infrastructure and Global Reach
With an extensive infrastructure featuring state-of-the-art data centers and the largest MPLS network in India, Sify maintains strategic partnerships with global technology leaders. This blend of resources makes Sify a go-to provider for businesses looking to innovate and expand their service offerings.
Client Base
Over 10,000 businesses from diverse sectors leverage Sify’s robust combination of data centers, networks, and digital services, enabling seamless operation across more than 1,700 cities in India. Sify is also making its mark in international markets, with operations extending to North America, the United Kingdom, and Singapore.
Contact Information
For more details about the company or its offerings, inquiries can be directed to the various channels provided below:
Sify Technologies Limited
Mr. Praveen Krishna
Investor Relations & Public Relations
+91 9840926523
praveen.krishna@sifycorp.com
20:20 Media
Nikhila Kesavan
+91 9840124036
nikhila.kesavan@2020msl.com
Weber Shandwick
Lucia Domville
+1-212 546-8260
LDomville@webershandwick.com
Frequently Asked Questions
What are Non-Convertible Debentures?
Non-Convertible Debentures (NCDs) are fixed-income instruments that cannot be converted into equity shares. They typically offer a higher interest rate compared to traditional loans.
What was the subscription rate for Sify's NCDs?
Sify's Non-Convertible Debentures were fully subscribed, indicating strong investor confidence.
What is the coupon rate for the NCDs?
The NCDs carry an attractive coupon rate of 8.95%, enhancing their appeal to investors.
What security backs the NCDs offered by Sify?
The debentures are secured by moving fixed assets and receivables from specific data centers owned by the company.
Where can I find more information about Sify Technologies?
For detailed information about Sify Technologies and their services, you can reach out through their investor relations contact or visit their official websites.
