CHENNAI, India, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Sify Infinit Spaces Limited, a wholly owned subsidiary of Nasdaq listed Sify Technologies Limited, today announced the listing of its first market offering in the form of Listed, Secured, Redeemable, Non-Convertible Debentures. The issue aggregating to INR 250,00,00,000 was fully subscribed.
The Company's 15-year bonds were subscribed by the Investors at a coupon rate of 8.95%.
The NCD is rated as AA- (Double A minus) by CARE. The company also announced the listing of the NCDs on the Bombay Stock Exchange at close of market Friday, October 04, 2024.
The debentures are secured by the Moveable Fixed Assets and Receivables pertaining to specific Data Centers. The proceeds from the issue have been used to repay the outstanding Bank Term loans against them.
M/s India Infradebt anchored the issue and subscribed with INR 75 Crores. Kotak Infrastructure Debt Fund and NIIF Infrastructure Finance Limited have subscribed INR 140 Crores and INR 35 Crores respectively.
Trust Group was the sole arranger of the abovesaid issue.
Ganesh Sankararaman, Head - Group Corporate Finance, Sify said, “The successful market listing is a critical external validation. It shows our bankers and institutional investors trust in our roadmap and the confidence in our abilities to become India’s leading AI-ready colocation services provider.”
About Sify Technologies
A Fortune India 500 company, Sify Technologies is India’s most comprehensive ICT service & solution provider. With Cloud at the core of our solutions portfolio, Sify is focussed on the changing ICT requirements of the emerging Digital economy and the resultant demands from large, mid and small-sized businesses.
Sify’s infrastructure comprising state-of-the-art Data Centers, the largest MPLS network, partnership with global technology majors and deep expertise in business transformation solutions modelled on the cloud, make it the first choice of start-ups, SMEs and even large Enterprises on the verge of a revamp.
More than 10000 businesses across multiple verticals have taken advantage of our unassailable trinity of Data Centers, Networks and Digital services and conduct their business seamlessly from more than 1700 cities in India. Internationally, Sify has presence across North America, the United Kingdom and Singapore.
Sify, www.sify.com, Sify Technologies and www.sifytechnologies.com are registered trademarks of Sify Technologies Limited.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Sify undertakes no duty to update any forward-looking statements.
For a discussion of the risks associated with Sify’s business, please see the discussion under the caption “Risk Factors” in the company’s Annual Report on Form 20-F for the year ended March 31, 2024, which has been filed with the United States Securities and Exchange Commission and is available by accessing the database maintained by the SEC at www.sec.gov, and Sify’s other reports filed with the SEC.
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