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CHENNAI, India - Sify Technologies Limited (NASDAQ:SIFY), an Indian Digital ICT solutions provider with annual revenues of $466.87 million, announced Wednesday it has appointed JPMorgan Chase Bank as the successor depositary for its American Depositary Receipt program, effective July 23, 2025.
The company has entered into an amended and restated deposit agreement with JPMorgan, according to a press release statement. A registration statement on Form F-6 was filed with the Securities and Exchange Commission on July 10 in connection with the change.
Holders of outstanding ADRs are not required to take any action regarding this change. JPMorgan will notify all registered ADR holders about the appointment.
Sify Technologies provides comprehensive ICT services and solutions in India, with operations spanning data centers, cloud services, networks, and digital services. The company serves more than 10,000 businesses across multiple sectors in over 1,700 cities in India, and maintains an international presence in North America, the United Kingdom, UAE and Singapore.
JPMorgan, which has been providing depositary receipt solutions since 1927, offers financial services in more than 100 countries globally. Sify’s stock has shown remarkable momentum, delivering a 69.23% return year-to-date. For detailed analysis and comprehensive valuation metrics, explore Sify’s full financial profile on InvestingPro.
In other recent news, Sify Technologies has announced the appointment of Dr. Ram Sewak Sharma to its board of directors. Dr. Sharma brings extensive experience from his previous roles, including as Chairman of the Telecom Regulatory Authority of India and founding Director General of the Unique Identification Authority of India. This addition to the board is expected to leverage his insights into technology and telecommunications as Sify continues to grow. Additionally, Sify has introduced a new pay-per-use model for its AI Cloud Services, aimed at lowering entry barriers for GPU Cloud partners. This model is supported by Sify’s DGX-Ready Data Centers, which are certified under NVIDIA’s program, and includes hosting, power, and infrastructure costs. The company’s data centers in Chennai, Noida, and Navi Mumbai are part of this initiative, supporting a range of NVIDIA platforms. This strategic move is expected to enhance Sify’s position in the AI market by offering flexible and cost-effective digital infrastructure.
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