CHENNAI,
India, March 21, 2024 /PRNewswire/ -- Sify
Technologies Ltd. (Nasdaq: Sify) (the "Company") is a leading
integrated information communications technology (or ICT) Solutions
and Services provider in India. The Company's infrastructure
comprises state-of-the-art Data Centers, the largest MPLS network,
partnership with global technology majors, and deep expertise in
business transformation solutions modelled on the cloud. The
Company today announced that it has filed a Registration Statement
on Form F-1 (the "Registration Statement") with the
Securities and Exchange Commission for a rights offering (the
"Rights Offering") to holders of its equity shares and American
Depositary Shares ("ADSs").
The net proceeds of the Rights Offering are expected to be
utilized for expansion of the business in developing Network
centric services, Data Center services and Digital Services and for
general corporate purposes.
In the Rights Offering, the Company will distribute, at no
charge, (1) to the holders of its equity shares, transferable
rights to subscribe for new equity shares and, (2) through
Citibank, N.A., the depositary for the ADSs (the "Depositary"), to
holders of ADSs, transferable rights to subscribe for new equity
shares in the form of ADSs.
The Rights Offering will include an over-subscription right,
which will permit each rights holder that exercises its
subscription rights in full the option to purchase additional
equity shares or ADSs, as the case may be, that remain unsubscribed
at the expiration of the Rights Offering. The over-subscription
right is subject to the availability and allocation of equity
shares and ADSs among holders exercising their over-subscription
right.
The Rights Offering will not commence until the Registration
Statement has been declared effective by the Securities and
Exchange Commission. The record date for the distribution of the
rights, the dates for both the subscription period and expiration
of the Rights Offering and other pricing information will be
included in the Company's final prospectus relating to the Rights
Offering.
A Registration Statement relating to these securities has
been filed with the Securities and Exchange Commission but has not
yet become effective. The securities may not be sold nor may offers
to buy be accepted prior to the time that such Registration
Statement is declared effective. A copy of the prospectus forming a
part of the Registration Statement, when available, may be obtained
free of charge at the website maintained by the Securities and
Exchange Commission at www.sec.gov or by contacting D.F. King &
Co., Inc, the Company's information agent for the Rights Offering,
located at 48 Wall Street, 22nd Floor, New York, New York 10005 by email
at sify@dfking.com. The rights will be issued to
holders of the Company's equity shares and ADSs as of a record
date, which is yet to be determined. The Company will provide
notice of the record date in the future at such time as it is
determined. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
Safe Harbor Statement
This release contains certain "forward-looking statements"
relating to the Company and its business. These forward-looking
statements are often identified by the use of forward-looking
terminology such as "expects", "intends", "will", or similar
expressions. Such forward looking statements involve known and
unknown risks and uncertainties that may cause actual results to be
materially different from those described herein as expected,
intended or planned. Investors should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. The Company's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in the Company's reports that are filed with the
Securities and Exchange Commission and available on its website
(www.sec.gov). All forward-looking statements attributable to the
Company or to persons acting on its behalf are expressly qualified
in their entirety by these factors other than as required under the
securities laws. The Company does not assume a duty to update these
forward-looking statements.
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SOURCE Sify Technologies Ltd.
