en.Wedoany.com Reported - Indian real estate developer Anant Raj plans to spin off its data center and cloud services business into a separate listed entity, Ashok Cloud Pvt Ltd, to sharpen strategic focus and unlock long-term shareholder value. Upon completion of the restructuring, Ashok Cloud will operate as a company dedicated to digital infrastructure and cloud services, poised to capitalize on the rapid expansion of India's digital economy.
Under the plan, Anant Raj will first consolidate all data center and cloud operations into a single entity, which will then be spun off into Ashok Cloud. Anant Raj itself will continue to focus on its core real estate and infrastructure development businesses, including residential townships, luxury homes, commercial developments, and hospitality.
Ashok Cloud will become an independent digital infrastructure and cloud services company, offering advanced data centers, managed services, sovereign public cloud products, AI-ready cloud infrastructure, data center and disaster recovery services (including cloud migration and data backup solutions), among others. Anant Raj stated that as an independent listed entity, Ashok Cloud will find it easier to attract investment, seek strategic partners, and seize emerging opportunities in the digital infrastructure sector.
Amit Sarin, Managing Director of Anant Raj, noted that the real estate and infrastructure business, along with the data center and cloud services business, have grown into two distinct platforms, each with independent growth trajectories, operational focuses, and capital requirements. The proposed composite scheme aims to provide both businesses with greater strategic concentration, management autonomy, and flexibility to achieve long-term value creation.
According to the company's investor presentation for the fourth quarter of fiscal year 2025-26, Anant Raj Cloud has expanded its data center and cloud operations to a 21 MW IT load capacity in Manesar and 7 MW in Panchkula. The company has set a target to reach a total IT load capacity of 357 MW by fiscal year 2031-32.
In June 2025, Anant Raj signed a memorandum of understanding with the Government of Haryana to invest INR 200 billion in developing large-scale data center infrastructure across the state. In May of the same year, Anant Raj, through its subsidiary Anant Raj Cloud, committed to investing INR 45 billion in Andhra Pradesh to build advanced data center infrastructure and cloud services. Additionally, in June 2026, the company established a wholly-owned subsidiary in Singapore to leverage its under-construction data center and cloud infrastructure to provide managed and cloud services, including AI-related services.
Upon the scheme becoming effective, eligible shareholders of Anant Raj will receive one fully paid-up share of Ashok Cloud with a face value of INR 2 for every share of Anant Raj they hold, also with a face value of INR 2. The company clarified that this scheme will not cancel Anant Raj's existing shareholding in Ashok Cloud, and Ashok Cloud will remain its subsidiary.
The proposed scheme requires statutory, regulatory, and judicial approvals from the National Company Law Tribunal, the Securities and Exchange Board of India, stock exchanges, shareholders, creditors, and other relevant authorities. According to a filing with stock exchanges on Tuesday, Anant Raj has completed the acquisition of 374.3 million fully paid-up shares of Ashok Cloud for a total consideration exceeding INR 7.486 billion. Another filing on Monday showed that Ashok Cloud plans to raise funds to meet the financing needs for developing data centers and acquiring target cloud businesses.
Anant Raj's operating revenue (including data center revenue) for fiscal year 2025-26 reached INR 251.16 billion, a year-on-year increase of 21.92%. In the same fiscal year, revenue from data centers, infrastructure, and related services was INR 17.649 billion.
