Anant Raj to demerge data centre arm into separately listed company
Anant Raj Limited currently operates 28 MW of IT load across its campuses in Manesar and Panchkula and is expanding its data center footprint across Haryana. It aims to achieve a total capacity of 307 MW by FY32 across Manesar, Panchkula and Rai, supported by a planned capital expenditure of approximately USD 2.1 billion.
The restructuring is aimed at creating two focused businesses one in real estate and infrastructure and the other in digital infrastructure.
The restructuring has been approved by a Composite Scheme of Arrangement by its Board of Directors. The Composite Scheme, approved under Sections 230 to 232 of the Companies Act, 2013, will create two focused listed companies.
Ashok Cloud Pvt Limited will emerge as a dedicated digital infrastructure and cloud services company, providing advanced data centres, co-location services, sovereign public cloud offerings, Artificial Intelligence (AI) ready cloud infrastructure, DC & DR services including cloud migration, data backup solutions and other allied services.
As an independent listed entity, the Company will be well positioned to capitalize on the rapidly growing demand for digital infrastructure and cloud services in India.
“Our real estate, infrastructure business and Data Centre & Cloud Services Business have evolved into two distinct platforms, each with its own growth trajectory, operational priorities, and capital needs. As both businesses enter their next phase of expansion, the proposed composite scheme is designed to provide greater strategic focus, management autonomy, and flexibility to pursue long-term value creation,” said Amit Sarin, Managing Director, Anant Raj Ltd.The proposed demerger is also expected to facilitate independent market recognition of the Data Centre Business while enabling eligible Anant Raj Ltd shareholders to participate directly in its future growth and value creation.
“By bringing together the data centre and cloud services operations currently housed across Anant Raj Ltd and Anant Raj Cloud Pvt Ltd under one roof, we are creating a more focused and scalable platform that will be well-positioned to attract investments, pursue strategic partnerships, and capitalize on emerging opportunities in the digital infrastructure sector,” Sarin said.
Upon the scheme becoming effective, eligible shareholders of Anant Raj Limited will receive one fully paid-up equity share of face value of Rs 2 each in Ashok Cloud Private Limited for every one fully paid-up equity share of face value of Rs 2 each held in Anant Raj Limited.
The scheme will not result in the cancellation of Anant Raj Limited’s existing shareholding in Ashok Cloud Private Limited, and ACPL will continue to remain a subsidiary of Anant Raj Limited.
The proposed scheme is subject to receipt of all necessary statutory, regulatory and judicial approvals, including approvals from the National Company Law Tribunal (NCLT), SEBI, the stock exchanges, shareholders, creditors and other applicable authorities, as required.
The group remains on track to achieve an installed IT load capacity of around 117 MW by FY28 across its strategic data center locations. In June 2024, AnantRaj also partnered with Orange Business, the French IT and telecom services provider, to deliver managed cloud services in India, further strengthening its integrated digital infrastructure offerings.
