Yotta set to debut on Nasdaq as SEC okays Cartica merger

The US Securities and Exchange Commission (SEC) has cleared the merger of Yotta Data Services with Cartica Acquisition Corp, a special purpose acquisition company (SPAC), setting the stage for the data centre company to list on the Nasdaq.

Hiranandani Group’s Nidar Infrastructure Ltd, the parent company of Yotta, had filed final papers for the initial public offering (IPO) last December.

The listing is expected to raise around $463 million, which will be used primarily for expanding Graphics Processing Unit (GPU) infrastructure, according to a company presentation to the SEC.


Shareholders of Cartica will vote on the merger at an extraordinary general meeting slated for November 28, 2025. Once approved, the combined entity will list under the ticker symbols YTTA (shares) and YTTAW (warrants) on the Nasdaq Global Market, the company said in a statement on Friday.

“This marks an important milestone in our journey to becoming a publicly-listed company,” said Sunil Gupta, co-founder and CEO of Nidar and Yotta. He added that the listing will help advance Yotta’s vision of building a globally competitive AI and cloud infrastructure platform, supported by India’s rapidly growing demand for digital infrastructure.

Darshan Hiranandani, co-founder of Nidar and CEO of Hiranandani Group highlighted Yotta’s strategic partnerships with NVIDIA, Microsoft, Indian government institutions, and financial enterprises. He also noted Yotta’s role in powering the IndiaAI Mission, including delivery of over half the GPU compute capacity under the initiative.

Cartica CEO Suresh Guduru said the merger underscores growing confidence in India’s digital and AI infrastructure story. “This deal will enable Yotta to access global capital and expand its leadership in powering digital transformation across sectors,” he said.

Founded by the Hiranandani Group, Yotta operates Tier III and IV data centres in India, offering colocation, cloud, and AI services. It also built Shakti Cloud, India’s first indigenous AI HPC platform.