Mumbai/New Delhi, Aug. 17 -- Yotta Data Services plans to raise $1.5 billion by the end of the current fiscal year (FY27), with private-equity funding ahead of its planned India listing determining how much it ultimately seeks from the public market. The Mumbai-based data centre company is targeting the fourth quarter for its initial public offering (IPO), subject to approval from the Securities and Exchange Board of India (Sebi). The IPO could raise as much as $400 million, with the bulk of the $1.5 billion potentially coming from a pre-IPO round. "Our $1.5 billion fund-raise is a combination of pre-IPO fundraising, as well as an IPO. We are targeting Q4 of this fiscal year, subject to Sebi approval-we're working towards ensuring compliance," Sunil Gupta, co-founder and chief executive officer (CEO) of Yotta, said in an interview. "The idea is that a big part of this $1.5 billion may get closed in the pre-IPO round itself, for which we're in touch with large funds based in the US, and also those with India offices." Gupta said the eventual IPO size will depend on how much Yotta raises beforehand. "The final size of the IPO will be dictated by how much money we raise pre-IPO; the size of the IPO can be up to $400 million." Yotta had earlier planned to list in the US but has now shifted its focus to India, where Gupta said the company's sovereign-cloud business makes a domestic listing a better fit. "(My) business proposition is sovereign. My complete build-out is in India, and the government is a huge customer for my entire sovereign cloud-which India's private sector will also adopt as they understand geopolitical risks. The nudge from the government for this was clear: why are you raising (funds) outside? Why not within India?," Gupta said. Yotta was co-founded in 2019 by Gupta and Darshan Hiranandani, chief executive officer of real estate firm Hiranandani Group. The company reported revenue of Rs.890.7 crore and a profit of Rs.11.1 crore for the year ended March 2025, show disclosures made by the privately held firm with the ministry of corporate affairs. The $1.5 billion fundraise is only the next step in a much larger capital push....