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Massive $5.5B+ Indian Data Center Portfolio Hits Market
2 Nov
Summary
- Data center unit STT GDC India valued over $5.5 billion.
- Potential sale and IPO plans are being pursued concurrently.
- The company operates 34 data centers with 613 MW capacity.
Major stakeholders KKR, Singtel, and Tata Communications are considering selling STT Global Data Centres India, with a valuation exceeding $5.5 billion. This dual-track approach includes evaluating a potential listing on Indian stock exchanges. The initiative seeks to optimize capital deployment and align with Tata's evolving data center strategy.
STT GDC India stands as a leading co-location provider, managing 34 data centers across 10 Indian cities, accumulating a total capacity of 613 MW. This large-scale data center portfolio is now accessible amidst a surge in demand for cloud and AI infrastructure.
Advisors are actively engaging global and domestic conglomerates showing significant interest in India's burgeoning data center sector. The sale process may also involve infrastructure funds and private equity investors. Previously, advisers were appointed around July to explore an Indian IPO, projecting a valuation between $6-7 billion.
STT GDC India is a joint venture, with ST Telemedia Global Data Centres holding a 74% stake and Tata Communications holding the remaining 26%. In February, KKR and Singtel finalized a $5.2 billion acquisition, increasing their control over STT GDC.
