The National Investment and Infrastructure Fund (NIIF) on Wednesday announced a USD 200 million (about Rs 1,660 crore) investment in digital infrastructure player Ibus Network and Infrastructure.
Ibus will be deploying the funds to scale operations in an organic way by expanding its capacities and for inorganic growth, according to a statement.
The company aims to strengthen its position as a leader in in-building solutions, outdoor small cells and managed WiFi services and expand its presence in new emerging sectors like Internet of Things (IoT) solutions, it added.
Part of the funds raised will also be deployed for developing new infrastructure solutions to address evolving market demands and technological advancements.
NIIF has invested in the company from its master fund.
"We were looking for the right investment partner, and with NIIF, we found partners who are completely aligned with our vision," the company's group chief executive Ram Sellaratnam said.
Master Fund's chief executive Vinod Giri said this is the eighth investment by the infrastructure fund and the second in digital infrastructure, which underscores the belief in the transformative power of digital technology for India's economy.
The statement said about USD 35-40 billion in capital expenditure is expected in the digital infra sector in the next five years, creating a need for substantial investments in the space.
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