Following the completion of the transaction, NIIF will maintain a major majority stake in iBUS.
The funding by the National Investment and Infrastructure Fund in iBus has been made by way of NIIF’s Master Fund
The National Investment and Infrastructure Fund (NIIF) has invested $200 million (over Rs 1,650 crore) in iBus Network And Infrastructure Pvt Ltd, a digital infrastructure options firm in India, to assist the expansion of the nation’s digital infrastructure. The funding has been made by way of NIIF’s Master Fund, in accordance to an announcement launched on Wednesday.
“The funds raised will be deployed towards scaling iBUS’ operations through organic and inorganic growth initiatives. iBUS aims to strengthen its position as a leader in In-building solutions, outdoor small cells and managed WiFi services while expanding its presence in new emerging sectors (such as IoT solutions). Additionally, investments will be directed towards developing new infrastructure solutions to address evolving market demands and technological advancements,” NIIF and iBus mentioned in a joint assertion.
This funding aligns with the Digital India Mission initiated by the Government of India, geared toward reworking the nation right into a digitally empowered society and a world information financial system, it mentioned.
Following the completion of the transaction, NIIF will maintain a major majority stake in iBUS.
Ram Sellaratnam, group CEO at iBUS, mentioned, “Bharat is one of the fastest-growing economies in the world and is poised for a digital revolution. Digital infrastructure is critical to our country’s growth and with a 60 per cent YoY growth, iBus is geared up to participate and contribute to the Bharat story. We were looking for the right investment partner and with NIIF we found partners who are completely aligned with our vision. iBUS can deliver at scale and we are here to transform connectivity in the country at scale, speed, and the right value.”
Vinod Giri, managing associate (Master Fund) at NIIF, mentioned, “Our investment in iBUS marks the eighth investment by our infrastructure fund and the second in digital infrastructure, underscoring our belief in the transformative power of digital technology for India’s economy. We are excited to partner with iBUS, whose commitment to innovating and expanding digital infrastructure aligns with our objective of supporting India’s digital transformation.”
The digital panorama in India is evolving at an unprecedented tempo, with the digital transformation unlocking immense potential and promise for the nation. A sturdy backend infrastructure is required to assist this digital transformation and about $35-$40 billion in capital expenditure is predicted in the sector in the subsequent 5 years, creating a necessity for substantial investments in the house.
Avendus was the transaction advisor to iBus on this funding.
NIIF is a collaborative funding platform for worldwide and Indian traders, anchored by the Government of India, which manages funds with investments in totally different asset lessons and diversified sectors that generate enticing danger-adjusted returns. NIIF manages over $4.9 billion of fairness capital commitments throughout its 4 funds – Master Fund, Private Markets Fund, Strategic Opportunities Fund, and India-Japan Fund, every with a definite funding technique dedicated to assist the nation’s progress wants.
Master Fund managed by NIIFL is India’s largest infrastructure fund, that goals to take part in the sturdy Indian infrastructure story.
