The National Investment and Infrastructure Fund Ltd. (NIIF) has invested $200 million in iBUS Network and Infrastructure Pvt Ltd., a connectivity technology firm, to support the growth of India’s digital infrastructure.
“The funds will be deployed towards scaling iBUS’ operations through organic and inorganic growth initiatives,” NIIF said in a statement.
iBUS is strengthening its position in in-building solutions, outdoor small cells and managed Wi-Fi services while expanding its presence in emerging sectors (such as IoT solutions).
Additionally, the investments will be directed towards developing new infrastructure solutions to address evolving market demands and technological advancements, NIIF said.
Following the completion of the transaction, NIIF will hold a significant majority stake in iBUS.
Ram Sellaratnam, Group CEO, iBUS said, “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 Partner – Master Fund, NIIF, said, “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.”
