India, Jan. 27 -- The Securities and Exchange Board of India (SEBI) has approved the draft red herring prospectus (DRHP) of Sify Infinit Spaces, a data centre colocation operator, clearing the way for the company's proposed initial public offering (IPO).

Through the offering, Sify Infinit Spaces plans to raise approximately Rs 37 billion. This includes a fresh issue of shares worth Rs 25 billion and an offer for sale (OFS) of Rs 12 billion by existing shareholders. Details such as the price band, lot size, and issue dates are yet to be announced. KFin Technologies has been appointed as the registrar to the issue, while JM Financial will act as the book-running lead manager.

The IPO comes at a time when demand for data centre capacity in...