National Investment and Infrastructure Fund Ltd (NIIF) has bought a majority stake in digital infrastructure company iBus Network and Infrastructure for $200 million to support its growth.
iBus plans to use the funds to fuel organic and inorganic growth initiatives and expand its presence in new emerging sectors such as IoT solutions. It will also use the funds to develop new infrastructure solutions.
“Digital infrastructure is critical to our country’s growth and with a 60% YoY growth, iBus is geared up to participate and contribute to the Bharat story,” said Ram Sellaratnam, Group CEO, iBus.
NIIF’s investment in the company is through its Master Fund, which primarily focusses on core infrastructure sectors such as transportation and energy. NIIF claims the Master Fund is one of the largest India-focused infrastructure funds.
“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,” said Vinod Giri, Managing Partner of NIIF’s Master Fund, in a statement.
Founded in 2013, is a digital infrastructure company that designs, deploys and maintains Wi-Fi and connectivity infrastructure for telecom companies.
Edited by Swetha Kannan
