Welcome to our dedicated page for Sify Technologie news (Ticker: SIFY), a resource for investors and traders seeking the latest updates and insights on Sify Technologie stock.
Sify Technologies Limited (NASDAQ: SIFY) serves as a leading integrated ICT solutions provider, delivering network connectivity, data center infrastructure, and digital transformation services across India and global markets. This news hub provides investors and business stakeholders with timely updates on corporate developments directly impacting Sify's market position and operational strategy.
Access comprehensive coverage of earnings announcements, strategic partnerships, technology deployments, and leadership updates. Our curated news collection simplifies tracking Sify's progress in key focus areas including enterprise cloud services, managed network solutions, and cybersecurity innovations.
Key content categories include quarterly results analysis, major contract awards, infrastructure expansion announcements, and regulatory filings. All materials are sourced from official company communications and verified financial channels to ensure reliability.
Bookmark this page for streamlined access to Sify's latest business milestones. Combine these updates with our detailed company profile and market analysis tools available on Stock Titan for informed decision-making.
Sify Technologies (NASDAQ: SIFY) reported its Q1 FY 2024-25 financial results, showing mixed performance. Revenue increased 10% year-over-year to INR 9,421 Million, while EBITDA grew 3% to INR 1,784 Million. However, the company reported a loss after tax of INR 105 Million.
Key highlights include:
- CAPEX of INR 2,656 Million
- Commissioned 6.5 MW data center capacity in Mumbai
- Revenue split: Data Center colocation services 36%, Digital services 23%, Network services 41%
- 1055 fiber nodes across India, up 16% YoY
- 9415 SDWAN service points deployed
Management remains optimistic about India's growth prospects and Sify's position to capitalize on digital transformation opportunities.
Sify Technologies (NASDAQ: SIFY), a premier Digital ICT solutions provider in India, will release its unaudited IFRS financial results for Q1 FY 2024-25 on July 19, 2024, before market open. The report will cover the quarter ending June 30, 2024.
A conference call hosted by Chairman Raju Vegesna, Group CFO M P Vijay Kumar, and CEO Kamal Nath will take place at 8:30 AM ET. Stakeholders can participate by dialing toll-free numbers in the U.S. or Canada or joining an online webcast.
The webcast will be available live and archived on Sify's investor website. A replay of the conference call will be accessible until July 26, 2024.
Sify Technologies has appointed Dr. Tom Bradicich to its Board of Directors, effective July 8, 2024.
Dr. Bradicich brings extensive experience from his leadership roles at IBM, HPE, and his board memberships at Aspen Technology and SparkCognition. He is known for developing numerous software and systems products, holding several patents, and earning various industry accolades such as CRN’s Top 100 Executives and the IBM Chairman’s Award.
Chairman Raju Vegesna praised Dr. Bradicich's disruptive technological expertise and business leadership, while Dr. Bradicich expressed his admiration for Sify's growth and leadership under Vegesna. He looks forward to contributing to Sify’s future success.
Sify Technologies (NASDAQ: SIFY) announced the appointment of Dr. Ajay Kumar as a new Director on its Board. Dr. Kumar, an Indian Administrative Service officer from the 1985 batch, brings a wealth of experience in technology and policy. His previous roles include Defence Secretary for the Government of India and leadership positions in Digital India initiatives like Aadhaar and UPI. Dr. Kumar holds advanced degrees from the University of Minnesota and has served as a Distinguished Visiting Professor at IIT Kanpur. His appointment coincides with the departure of three long-serving directors: Dr. T H Chowdary, Mr. C B Mouli, and Mr. C E S Azariah.
Chairman Raju Vegesna expressed confidence in Dr. Kumar's ability to enhance Sify's business strategy and corporate governance. Dr. Kumar also expressed his enthusiasm for joining Sify, highlighting the company's strong reputation and converged ecosystem of Networks, Data Centers, and Digital tools.
Sify Technologies (Nasdaq: SIFY), a key player in India's ICT sector, announced the over-subscription of its recent rights offering. The subscription period concluded on June 21, 2024. The company anticipates issuing 190,268,698 equity shares and 59,730,265 ADSs, raising gross proceeds of approximately $30 million. The new shares will bring the total outstanding equity shares to 433,331,423. The funds will be utilized to expand Sify's Network Centric Services, Data Center Services, Digital Services, and for general corporate purposes. The new equity shares are expected to be delivered by July 5, 2024, and ADSs by July 9, 2024. Excess subscription payments will be returned to the holders.
Sify Technologies , a leading ICT solutions and services provider in India, has announced its intent to voluntarily delist its ADS Rights from NASDAQ. The company has notified NASDAQ of this decision in line with its previously announced rights offering disclosed on June 3, 2024. The ADS Rights will trade under the symbol SIFYR from June 7, 2024, until June 18, 2024. They will be delisted after 4:00 p.m. on June 18, 2024, and will expire on June 21, 2024. Holders of ADS Rights can sell them directly or through Citibank, N.A., the ADS Rights Agent, before the delisting date. No arrangements for listing on another exchange will be made. The company plans to file a Form 25 with the SEC and NASDAQ regarding this voluntary delisting.
Sify Technologies (Nasdaq: SIFY) has initiated its previously announced rights offering. Equity shareholders will receive transferable rights to subscribe for new equity shares, while ADS holders will get rights to subscribe for new ADSs. Each ADS right allows the purchase of one new ADS at $0.14, including a $0.02 depositary fee. Equity share rights allow purchases at Rs. 10 per share. The offering includes an over-subscription right, allowing holders to buy additional shares if available. If fully subscribed, Sify expects to raise approximately $30 million before expenses. Funds will be used for expanding network services, data centers, digital services, and general corporate purposes. Details are available in the registration statement on the SEC's website.
Sify Technologies (Nasdaq: Sify) announced key dates for its upcoming rights offering. The company plans to issue up to 250,000,000 new equity shares and ADSs. Shareholders and ADS holders will receive transferable subscription rights at no charge, allowing them to purchase new shares or ADSs at set prices.
The record date for equity shares and ADSs is May 31, 2024. Holders of ADSs will receive 1.36364 ADS rights per ADS, allowing them to buy new ADSs at $0.14 each. Equity shareholders will also receive 1.36364 rights per share to buy new shares at Rs. 10 each.
The subscription period runs from June 7, 2024, to June 21, 2024. Net proceeds will fund business expansion in Network centric services, Data Center services, and Digital Services, along with general corporate purposes.
The offering is contingent on SEC registration becoming effective, and Sify reserves the right to modify or cancel the offering.
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