Data centre operator Yotta Data Services is targeting a stock market listing in the January–March 2027 quarter and plans to file its draft IPO papers in October, co-founder and CEO Sunil Gupta told Reuters on 2 September 2026. The company is seeking up to $1.5 billion.
That $1.5 billion works out to roughly ₹14,200 crore at the rate of $1 = ₹94.96 cited by Reuters on 2 September 2026. January–March 2027 is Q4 of FY 2026-27.
The Hiranandani Group-backed company is not listed today, so its shares cannot be bought or sold on NSE or BSE yet. A DRHP draft red herring prospectus is the first formal document a company files with SEBI before an IPO, and it is where Yotta’s audited numbers will finally become public.
Where the money is meant to go
Gupta told Reuters the funds would be used for three things: repaying debt, buying graphics processing units (GPUs), and expanding sovereign cloud infrastructure.
GPUs are the specialised chips that run artificial intelligence workloads. Yotta describes itself as India’s largest provider of Nvidia-powered AI computing infrastructure.
“Sovereign cloud” simply means cloud infrastructure where the data physically stays inside the country’s borders. Government departments and regulated industries increasingly ask for this.
The public issue may end up smaller than the headline number
This is the detail most worth noting for anyone tracking the IPO pipeline. The $1.5 billion is the total fundraise target, not the IPO size.
Yotta is currently raising pre-IPO capital from private investors, and Gupta said the IPO portion is expected to be smaller than originally planned because much of the target has already been met.
He declined to disclose Yotta’s revenue or how much has been raised so far. Until the DRHP is filed, the actual issue size, the fresh-issue-versus-offer-for-sale split and the price band all remain unknown.
The DRHP timeline has also moved. In early July 2026 Gupta told Informist the filing was expected within two weeks; in mid-August he told BW Businessworld the document was “almost ready”. The current guidance is October 2026.
Verified figures so far
| Item | Figure | Source and date |
|---|---|---|
| Total fundraise target | Up to $1.5 billion (~₹14,200 crore) | Reuters interview, 2 September 2026 |
| Targeted IPO window | January–March 2027 (Q4 FY 2026-27) | Reuters interview, 2 September 2026 |
| DRHP filing target | October 2026 | Reuters interview, 2 September 2026 |
| Last disclosed valuation | About ₹37,000 crore | Company statement, July 2026 |
| Pre-IPO capital raised | About $150 million (~₹1,425 crore) from HNIs and family offices | Company statement, July 2026 |
| Share of global clients | 75%–80% of customer base | Gupta to Reuters, 2 September 2026 |
Media reports in August 2026, citing company disclosures, put Yotta’s revenue for the year ended March 2025 at ₹890.7 crore with a profit of ₹11.1 crore. These are FY 2024-25 numbers and are more than a year old. The DRHP will carry the current, audited position.
Why the timing lines up with policy
Gupta pointed to the 20-year tax holiday announced in the Union Budget 2026-27 as something that has lifted confidence among overseas customers.
Finance Minister Nirmala Sitharaman announced on 1 February 2026 that foreign companies providing cloud services to global customers using specified Indian data centres would get a tax holiday until 2047. The Budget also introduced a 15% transfer pricing safe harbour on cost for Indian companies providing data centre services to a related foreign reseller.
Gupta said India is becoming more attractive for AI infrastructure investment as power shortages and GPU supply constraints slow expansion in the United States and Europe, while geopolitical tension creates uncertainty in the Middle East.
Global clients make up 75%–80% of Yotta’s customer base, he said.
An unusual way to pay for chips
Yotta is exploring financing structures where partners buy GPUs through special purpose vehicles, share the revenue those chips generate, and eventually transfer ownership to Yotta after four to five years, Gupta told Reuters.
An SPV is a separate company created for one specific purpose here, to own the hardware. The arrangement would keep a large chunk of the chip cost off Yotta’s own balance sheet in the early years.
This is described as under exploration, not as a concluded deal. No partner names or amounts have been disclosed.
What to watch next
The October DRHP filing is the next real checkpoint. Until SEBI receives and processes that document, the issue size, valuation at IPO and financial performance are not confirmed.
Yotta had earlier considered a US listing before shifting focus to an India listing. It said in July 2026 that it aims to scale its AI cloud to more than 40,000 Nvidia Blackwell GPUs and to about 85,000 GPUs by the end of FY 2026-27 targets that will be easier to verify once the prospectus is public.
Applying to any mainboard IPO in India requires a demat account linked to a bank account with UPI or ASBA, so investors who want to participate when the issue eventually opens will need that in place well before the dates are announced. Until then, the listed data centre and AI infrastructure names already trading on NSE and BSE can be tracked through any online trading platform.
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