KKR, Singtel and Tata Communications are preparing to sell their stakes in STT Global Data Centres (GDC) India. The potential deal could exceed $5.5 billion.
The investors are pursuing a dual-track process that also includes evaluating a potential IPO in India. The company was previously considered for an IPO at a valuation of $6 billion to $7 billion.
The sale is intended to unlock value and rebalance capital requirements. Advisors have been appointed to approach potential buyers, including global data center operators, Indian conglomerates and financial sponsors.
STT GDC India operates 34 data centers. They are spread across 10 cities. The company has a total capacity of 613 MW, making it one of India’s largest data center operators in a rapidly growing market.