NIIF Invests $200 Million in iBUS for Digital Infrastructure Growth

National Investment and Infrastructure Fund Limited  (NIIF), and IBUS NETWORK AND INFRASTRUCTURE PRIVATE LIMITED (iBUS), a leading digital infrastructure solutions company in India, are delighted to announce an investment of around USD200 million in iBUS through NIIF’s Master Fund  to support the growth of India’s digital infrastructure.

iBUS Expansion Strategy

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.

This investment aligns with the Digital India Mission initiated by the Government of India, aimed at transforming the country into a digitally empowered society and a global knowledge economy.

Following the completion of the transaction, NIIF will hold a significant majority stake in iBUS.

Mr. Ram Sellaratnam, Group CEO at iBUS said, “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% 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.”

Mr. Vinod Giri, Managing Partner – Master Fund at 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. 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 landscape in India is evolving at an unprecedented pace, with the digital transformation unlocking immense potential and promise for the nation. A robust backend infrastructure is required to support this digital transformation and about USD35-USD40 billion in capital expenditure is expected in the sector in the next five years, creating a need for substantial investments in the space. With this investment, iBUS is poised to strengthen its market position and drive innovation in the digital infrastructure space, reaffirming its commitment to empowering communities through connectivity.

Avendus was the transaction advisor to iBus on this investment.