MUMBAI, April 16 -- Digital infrastructure provider CtrlS Datacenters has begun preparations to raise about $300 million through an initial public offering (IPO), three people familiar with the matter said, amid rising investor appetite for the segment.

Founded by Sridhar Pinnapureddy, the Hyderabad-based company has initiated discussions with bankers to assess market conditions, the people said, adding that appointments are likely in the coming months, with a listing targeted by the end of this financial year.

CtrlS did not respond to Mint's requests for a comment till the time of publishing.

The move comes as India's data centre industry sees heightened deal and investment activity. Last month, Bharti Airtel announced a $1 billion in...