iBUS Network And Infrastructure Raises Rs 280 Crore From IFC
iBUS Network and Infrastructure, a digital infrastructure solutions provider, announced on Tuesday that it has secured an investment of Rs 280 crore
iBUS Network and Infrastructure, a digital infrastructure solutions provider, announced on Tuesday that it has secured an investment of Rs 280 crore ($34 million) from the International Finance Corporation (IFC), a member of the World Bank Group, for a minority stake in the company.
This investment will bolster iBUS’s plans for both domestic and international growth, enhancing its ability to deliver solutions for in-building connectivity, outdoor small cells (a radio access point), managed Wi-Fi services, and intelligent Internet of Things (IoT), the company said.
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“This partnership marks a significant milestone for iBUS, as we aim to accelerate our growth, improve our technological capabilities and continue to strengthen our position as a leader in the industry," said Subash Vasudevan, chief business officer, iBUS Network.
This is IFC’s first investment in Infratech in the Asia-Pacific region and aligns with the organization’s broader strategic focus on improving access to high-quality digital connectivity and supporting India’s digital transformation, the statement said.
“Through this partnership, we aim to strengthen last-mile connectivity and elevate the quality of digital infrastructure for both individuals and businesses in the country," said Wendy Werner, IFC India country head.
The investment comes after iBUS received $200 million funding from the National Investment and Infrastructure Fund (NIIF) and had announced plans for three significant acquisitions this year. “These moves underline iBUS’s commitment to leading the digital infrastructure revolution in India and beyond."
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