Yotta Data Services plans to launch an IPO in the January-March quarter of 2027 and aims to raise up to $1.5 billion. The Hiranandani Group-backed operator plans to file draft IPO papers in October, using proceeds to repay debt, purchase graphics processing units (chips designed for intensive computing) and expand sovereign cloud infrastructure that keeps data within national borders. Yotta is already raising pre-IPO capital and expects the IPO portion to be smaller than originally planned because much of its fundraising target has been met. CEO Sunil Gupta said the company raised $150 million in primary growth capital at a valuation of about 370 billion rupees, or $3.9 billion, and declined to disclose revenue or the amount raised so far. Yotta says it is India’s largest provider of Nvidia-powered AI computing infrastructure. Gupta said overseas customers account for 75%-80% of its client base and that a 20-year tax holiday announced by the Indian government in February for foreign firms using local data centres has strengthened customer confidence. The company is also considering arrangements in which partners buy GPUs through special-purpose vehicles (separate entities for specific transactions), share revenue from the chips and transfer ownership to Yotta after four to five years.