STT Global’s India biz on the block; micro occasions power qcomm

Thank you for subscribing to Daily Top 5We'll soon meet in your inbox. Daily Top 5STT Global's India biz on the block; micro occasions power qcomm Thank you for subscribing to Daily Top 5We'll soon meet in your inbox. KKR, Singtel, and the Tatas are preparing to sell STT GDC India, a major data centre platform.

This and more in today’s ETtech Top 5. KKR, Singtel, Tata Communications to sell data centre firm STT GDC for over $5.5 billion Key shareholders of STT Global Data Centres India — KKR, Singtel, and the Tata group — are drawing up plans to sell the local business, which is among India’s top three co-location providers, to unlock value, people in the know told us.

Driving the news: This would be the first time such a large data centre portfolio is up for sale in India, as hyperscalers and infrastructure providers race to build capacity. STT GDC India runs 34 data centres across 10 cities with a total capacity of 613 MW.

The potential transaction is part of a dual track initiative to find ways to help the Tatas rebalance capital requirements as well as streamline their data centre (DC) plans. More details: Advisors appointed for the sale process will target global players already in India or planning an entry, deep-pocketed Indian conglomerates with announced mega investments, and financial sponsors such as infrastructure and buyout PE firms, sources said.

In parallel, the shareholders had begun evaluating an Indian IPO at a $6-7 billion valuation around July. Pricey assets: Data centres in Asia Pacific have been valued at 18-20 times their contracted Ebitda. Sources said transactions like Blackstone and CPPIB’s $16 billion acquisition of Australia’s AirTrunk in September 2024 had valued the target at 22-23x its contracted Ebitda.

STT GDC is expecting similar multiples. Micro occasions fuel demand surge across quick commerce, beauty services Micro occasions are driving a sharp increase in orders on quick commerce platforms, rapid fashion delivery apps, and at-home beauty services, with some categories recording more than double the usual demand as consumers turn to last-minute purchases, industry executives told ET.

Micro marketing: Quick commerce firms Blinkit, Instamart, and Zepto are stepping up marketing for these micro occasions in select pincodes. For Karva Chauth, mehendi orders surged 16x, while havan items, kalash, and pooja thalis rose 5x, a Flipkart spokesperson said.For Halloween, Flipkart Minutes saw a threefold rise in candy orders, masks and body art grew sixfold, and children’s costumes doubled on October 31.

On Myntra Now, overall orders rose about 70% on October 29 versus regular days. Demand drivers: Analysts say quick commerce is creating incremental demand around micro events through dedicated app pages, gamification via brand partnerships, and offers.

SaaS firm Capillary Technologies’ Q2 profit at Rs 21.9 crore, revenue rises 51% Loyalty management software firm Capillary Technologies reported a major jump in its net profit for the September quarter. Net profit: Rs 21.9 crore, against Rs 28.8 lakh a year earlier.Revenue from operations: Rose 51.3% to Rs 271.4 crore.Adjusted Ebitda: Up 103% year-on-year to Rs 44.9 crore.Outlook: Capillary retained its FY27 guidance of Rs 1,065 crore in revenue and Rs 172 crore in adjusted Ebitda.