Yotta Data Files for $463M Nasdaq IPO
Technology

Yotta Data Files for $463M Nasdaq IPO

Yotta Data Services, a data center and cloud computing firm backed by the Hiranandani Group, has filed for a $463 million listing on the Nasdaq, according to its submission to the US Securities and Exchange Commission (SEC).

The filing was made on December 30 through Yotta’s holding entity, Nidar Infrastructure. In June 2023, Nidar merged with Cartica Acquisition Corp., a special purpose acquisition company (SPAC), valuing Yotta at $4.2 billion. Post-listing, Yotta’s shareholders will retain 82.6% ownership, assuming a 14% redemption of Cartica’s public shares.

Yotta, which operates data centers in Mumbai, Greater Noida, GIFT City, Pune, Chennai, and Dhaka, plans to use the IPO proceeds for capital expenditure, primarily to expand its GPU infrastructure. The company has already deployed 4,096 Nvidia H100 GPUs, with 1,752 currently in use for clients in pharmaceuticals and AI. It expects to receive 8,192 GPUs by year-end and plans to order an additional 16,384 GPUs in 2024.

Yotta’s AI services business is its fastest-growing segment, driven by strong demand for GPUs, particularly from Western markets.

Yotta Data Services, a data center and cloud computing firm backed by the Hiranandani Group, has filed for a $463 million listing on the Nasdaq, according to its submission to the US Securities and Exchange Commission (SEC). The filing was made on December 30 through Yotta’s holding entity, Nidar Infrastructure. In June 2023, Nidar merged with Cartica Acquisition Corp., a special purpose acquisition company (SPAC), valuing Yotta at $4.2 billion. Post-listing, Yotta’s shareholders will retain 82.6% ownership, assuming a 14% redemption of Cartica’s public shares. Yotta, which operates data centers in Mumbai, Greater Noida, GIFT City, Pune, Chennai, and Dhaka, plans to use the IPO proceeds for capital expenditure, primarily to expand its GPU infrastructure. The company has already deployed 4,096 Nvidia H100 GPUs, with 1,752 currently in use for clients in pharmaceuticals and AI. It expects to receive 8,192 GPUs by year-end and plans to order an additional 16,384 GPUs in 2024. Yotta’s AI services business is its fastest-growing segment, driven by strong demand for GPUs, particularly from Western markets.

Next Story
Infrastructure Energy

Amazon Invests in Three Wind Energy Projects in India

Amazon has announced significant investments in three wind energy projects across Karnataka, Maharashtra, and Tamil Nadu, which will generate over 379 MW of clean energy. This move underscores the company’s commitment to achieving 100% renewable energy operations.The projects, which are part of Amazon’s broader sustainability strategy, include the CleanMax Koppal project (100 MW) in Karnataka, BluPine Solapur (99 MW) in Maharashtra, and JSW Energy Dharapuram (180 MW) in Tamil Nadu. These developments are expected to help India in meeting its ambitious target of generating 50% of its electr..

Next Story
Infrastructure Energy

ONGC Inks E&P Pact With Bp

State-owned Oil and Natural Gas Corporation Limited (ONGC) and bp have agreed to explore opportunities for collaboration and partnership across the energy industry in India and internationally, focusing on oil and gas exploration and production, as well as trading and extending to other energy vectors. The two companies signed a memorandum of understanding (MoU) ahead of the India Energy Week. Under the terms of the MoU, bp will collaborate with ONGC to jointly explore and evaluate potential business opportunities in oil and gas projects both within India and internationally, the com..

Next Story
Infrastructure Energy

HPCL Plans To Raise Vizag Oil Refinery Capacity By 20%

State-run Hindustan Petroleum (HPCL) plans to increase the capacity of its Vizag oil refinery in southern India by as much as 20 per cent to meet growing local fuel demand .India is raising its crude processing capacity as the world's third-largest oil importer and consumer wants to be a major global refining hub while its fuel demand is expected to continue growing for the next decade. HPCL recently expanded the capacity of the Vizag refinery to 300,000 barrels per day and is looking for a further increase. HPCL will soon start operations at the Vizag refinery's new secondary units,..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?