Nidar and Cartica Announce SEC Approval for Business Combination

Cartica Acquisition Corp, a publicly-traded special purpose acquisition company, and Nidar Infrastructure Limited (“Nidar” or the “Company”), parent of Yotta Data Services (“Yotta”), announced today that, the registration statement on Form F-4, as amended (the “Registration Statement”), filed with the Securities and Exchange Commission (the “SEC”) in connection with the previously announced proposed business combination (the “Business Combination”) between Cartica and Nidar, has become effective.

The proposed Business Combination is expected to close shortly after approval by Cartica’s shareholders and the satisfaction of other customary closing conditions as described in the proxy statement/prospectus contained in the Registration Statement. A copy of the Registration Statement can be accessed via the SEC website at www.sec.gov. Upon completion of the proposed Business Combination, the combined company is expected to list its ordinary shares and warrants on The Nasdaq Global Market under the ticker symbols “YTTA” and “YTTAW,” respectively.

“The effectiveness of our Registration Statement marks an important milestone in our journey to becoming a publicly-listed company,” said Sunil Gupta, co-founder and CEO of Nidar and Yotta. “It positions us to execute on Yotta’s vision to build India’s most trusted and globally competitive AI and cloud infrastructure platform. Through our fully integrated ‘concrete-to-cloud’ capabilities, spanning hyperscale data centers, sovereign cloud platforms, and AI compute services, we believe we have created a foundation capable of meeting the world’s most demanding digital workloads.”

Darshan Hiranandani, co-founder of Nidar and Director of Nidar's largest shareholder, added: “Over the past year, Yotta has expanded partnerships with NVIDIA, Microsoft, leading central government institutions, large banks, enterprises and research institutes, delivered more than half of the GPU capacity to the IndiaAI Mission, and continued to pioneer sovereign cloud innovation through platforms like Shakti Cloud and Yntraa Cloud. As we move toward closing, we anticipate continuing to accelerate India’s role as a global hub for AI and high-performance computing.” 

Suresh Guduru, CEO of Cartica, stated: “Our partnership with Nidar reflects our belief in the immense potential of India’s technology infrastructure and AI ecosystem. We believe this Business Combination will position Yotta to accelerate its growth, expand access to global capital markets, and capture a leading role in powering the next wave of digital transformation in India and beyond.”