Blackstone-backed Neysa will go public in next few years, says CEO Sharad Sanghi

Cloud infrastructure startup Neysa is aiming to go public in a few years, founder and chief executive Sharad Sanghi said on Thursday at the ET AI Conclave in Bengaluru.

“We’ve got a partner like Blackstone, and the aim is to go public in a few years. Once we have that growth engine going and know that we can start growing at the pace the market expects, we can hopefully go public,” he said.

Earlier this month, it closed a $1.2 billion financing round led by US private equity firm Blackstone, which included $600 million in debt. The round ascribed an enterprise value of $1.4 billion to the firm.


Founded in 2023 by Sanghi and Anindya Das, a former senior executive at Netmagic, Neysa offers compute power and software tools to build, run, and manage artificial intelligence (AI) applications for businesses ranging from large enterprises to startups and even government clients.

Neysa’s neocloud platform is seeing growing demand from AI firms, as global foundational model companies such as OpenAI and Anthropic expand their footprint in India.

“Right now, demand and supply are so skewed that there isn’t enough data centre space to fulfil capacity. The new data centres are all liquid-cooled to cater to AI workloads, because the entire shift is happening from traditional workloads to AI workloads,” Sanghi said while noting that he does not see AI as a bubble.

Neysa operates in the graphics processing units (GPU)-led cloud and AI infrastructure segment, offering enterprises compute capacity to deploy large-scale AI work. Its clientele spans segments including banks, healthcare providers, manufacturing firms, and media companies. It also services startups and digital-native businesses.

Neysa is the second venture by Sanghi, who founded Netmagic, one of India’s oldest data centre services firms, which was sold to NTT.

“We wanted to give our investors and employees an exit. Data centres were quite new from a market perspective, so we sold a majority stake. That meant we didn’t have to raise capital, because data centres are a very capital-intensive business, and NTT had a lot of money that we could use to scale. The concern I had at that point was that going public would make me take the wrong decisions just to meet analyst expectations, but now that has changed,” he said on why he chose a sale over an IPO.