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NIIF Picks up a Majority Stake in Network Solutions Provider iBus for USD 200 Mn The Bengaluru-based iBus intends to use the fresh funds to support both organic and inorganic growth initiatives, as well as to increase its footprint in recently developed markets like IoT solutions.

By Entrepreneur Staff

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Ram Sellaratnam, Group CEO, iBus

The government-backed National Investment and Infrastructure Fund (NIIF) announced that it has invested USD 200 million in Bengaluru-based in-building solutions (IBS) provider iBus. After that, NIIF would own a significant majority stake in the startup.

Previously, in 2022, iBus received INR 125 crore from Nomura, a Japanese financial services company, and in 2021, it received INR 150 crore from Morgan Stanley's North Haven India Infrastructure Fund.

Morgan Stanley still owned the majority stake in iBus. Nonetheless, the American financial services and investment bank has left the company in part and is now only a minority stakeholder.

iBus intends to use the fresh funds to support both inorganic and organic growth initiatives, as well as to increase its footprint in recently developed markets like IoT solutions. The money will also be used to develop new infrastructure solutions.

Ram Sellaratnam, Group CEO, iBus, said, "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."

Through its Master Fund, which primarily focuses on core infrastructure sectors including transportation and energy, NIIF has invested in the company.

Established in 2013, iBus Networks is a digital infrastructure enterprise that creates, implements, and manages Wi-Fi and connection systems for telecommunication firms.

The leading telecom companies in India, Reliance Jio, Bharti Airtel, and Vodafone Idea, in addition to Bloom Energy, Crome, INOX, and FBB, are among its clientele.

iBus claims that it offers digital connectivity solutions to more than 200 hotels, 100 hospitals, 100 malls, and over 300 IT parks nationwide.

Vinod Giri, Managing Partner of NIIF's Master Fund, 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."

Entrepreneur Staff

Entrepreneur Staff


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