Sify Infinit Spaces Ltd. has halted its planned initial public offering, originally slated to raise ₹37 billion ($391 million) from Indian investors. The decision, confirmed by sources familiar with the matter, follows a wave of postponements as the country’s equity markets struggle with low liquidity and muted valuations. The delay removes a high‑profile listing from the near‑term pipeline.

Investors had hoped the IPO would boost Sify’s capital base for its data‑center expansion and cloud services rollout, sectors that have attracted foreign interest despite broader market weakness. Comparable listings this year have either been pulled or priced down, reflecting pressure on pricing multiples. The pause may force the company to seek alternative financing, such as debt or private placement.

The postponement adds to a growing list of Indian tech firms delaying equity raises, underscoring investor wariness amid volatile macro conditions. With the IPO off the table, Sify Infinit Spaces will need to demonstrate cash‑flow generation to sustain its growth plan, while market participants watch for signs of a broader rebound that could revive stalled offerings. The company remains listed but without near‑term fundraising.