STT Global Data Centres Lines Up a $500m Mumbai Listing
May 15, 2026 - 9:08 am
The Singapore-controlled, Tata-minority data-centre operator, STT Global Data Centres India, is preparing an initial public offering (IPO) in Mumbai that could raise up to $500m, according to Bloomberg. Investment banks have been invited to pitch for advisory roles next week, with mandates expected to be awarded by the end of May.
Key Points:
- The operator is the Indian arm of ST Telemedia Global Data Centres, formerly part of Temasek's portfolio. ST Telemedia holds a controlling 74% stake while Tata Communications retains a 26% minority share.
- Bloomberg sources estimate the valuation at $500m, while Indian and Asian outlets suggest a range of $5bn to $5.5bn.
- STT GDC India operates approximately 30 data centers across 10 cities in India, with over 400 MW of IT-load capacity.
- In February, the company committed ₹4,200 crore ($500m) to a new AI-ready campus in Chennai and signed memorandums for further sites with several Indian states.
- The Mumbai listing would be one of the first significant liquidity events for STT GDC under its new private owners, KKR and Singtel, acquired in February for $5.2bn.
- It positions STT GDC ahead of other data center listings, such as Sify Infinit Spaces, Yotta Data Services, Blackstone's proposed $1.75bn REIT, and Fervo's recent $1.33bn IPO.
Global Trends:
Globally, there is strong demand for data centers fueled by growing cloud adoption and AI investments from tech giants like Google and Microsoft in India.