Hyderabad-based data centre operator CtrlS Datacenters has secured a total investment commitment of ₹7,000 crore from the Canada Pension Plan Investment Board (CPPIB), valuing the company at a pre-money valuation of $4.7 billion. The investment is expected to accelerate the creation of nearly 4 gigawatts (GW) of data centre capacity across India, positioning CtrlS to capitalise on the country’s rapidly growing demand for cloud, artificial intelligence (AI) and digital infrastructure services.
Under the deal, CPPIB will invest ₹4,000 crore (C$588 million) for an 8.2% stake in CtrlS, marking the company’s first institutional fundraise.
Joint venture to build hyperscale campuses
Beyond the equity investment, the two companies will establish a joint venture to develop hyperscale data centre campuses across India.
CPPIB has committed up to ₹3,000 crore (C$441 million) to the venture and will hold a 48% stake, while CtrlS will retain a majority ownership of 52%.
The partnership aims to accelerate the deployment of next-generation digital infrastructure to meet increasing demand from hyperscalers, cloud service providers, AI workloads and enterprises undergoing digital transformation.
Capacity expansion plans
CtrlS plans to utilise the fresh capital to expand its data centre footprint significantly. The company currently has approximately 1.2 GW of capacity under construction. In addition, more than 3 GW of future capacity is in the planning stage, with land already acquired and power availability secured.
The newly formed joint venture will primarily focus on developing large-scale hyperscale data centre complexes catering to global technology companies and cloud providers.
Expanding nationwide footprint
CtrlS has built 19 data centres across 10 cities in India and continues to expand its presence.
Two additional facilities, located in Patna and Gujarat International Finance Tec-City (GIFT City), are under construction and are expected to become operational within the next three months.
The company currently operates hyperscale campuses in Mumbai, Hyderabad and Chennai, while evaluating expansion opportunities in Visakhapatnam and Gujarat.
Riding India’s digital infrastructure boom
The investment comes amid surging demand for data centre infrastructure driven by rapid cloud adoption, AI-led computing requirements, digital payments, data localisation needs and the expansion of India’s digital economy.
With fresh capital, strategic backing from a global institutional investor and an ambitious expansion pipeline, CtrlS is positioning itself as one of the key players in India’s fast-growing hyperscale data centre market.