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.