NIIF invests $200 million in iBus Network for majority stake

iBus

National Investment and Infrastructure Fund Limited (NIIF) has invested $200 million in iBus network and Infrastructure Limited through its Master Fund.

After the transaction, NIIF will hold a "significant majority" stake in iBUS, the companies said in a joint statement without sharing the details.

“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,” Vinod Giri, Managing Partner–Master Fund at NIIF, said in the statement.

The NIIFL Master Fund is India’s largest infrastructure fund. It aims to participate in the Indian infrastructure story by investing in high-quality businesses and assets across core infrastructure sectors via operating and greenfield opportunities.

Avendus was the transaction adviser to iBus on this investment.

iBUS said it is poised to strengthen its market position and drive innovation in the digital infrastructure space, reaffirming its commitment to empowering communities through connectivity.

iBUS aims to strengthen its position in In-building solutions, outdoor small cells and managed WiFi services while expanding its presence in emerging sectors such as IoT solutions.

Digital infrastructure is critical to India's growth and with a 60 percent YoY growth, iBus is geared up to participate and contribute to the Bharat story, Ram Sellaratnam, Group CEO at iBUS said in a joint statement.

"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,” Sellaratnam said.

A robust backend infrastructure is required to support this digital transformation and about $35-$40 billion in capital expenditure is expected in the sector in the next five years, creating a need for substantial investments in the space, the statement said.