International Finance Corporation has contributed Rs 280 crore (USD 34 million) to iBUS Network and Infrastructure. Their intentions to expand internationally are supported by this money. Before, HNI investors and Morgan Stanley left with returns ranging from 20 to 45 percent. The company anticipates strong sales growth in the following fiscal years.
The International Finance Corporation has granted iBUS Network and Infrastructure, a provider of digital infrastructure, about Rs 280 crore (USD 34 million). The announcement was made on Tuesday. The company’s plans for international expansion are to be supported by this significant investment.
Among the company’s first investors were the National Investment and Infrastructure Fund (NIIF), Morgan Stanley, and a number of High-Net-Worth Individuals (HNI). Wi-Fi managed services and in-building telecom network solutions are iBUS’s areas of expertise. Chief Business Officer Subash Vasudevan reports that HNI and Morgan Stanley investors left with returns varying from 20 to 45%.
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Vasudevan emphasized that the IFC investment represents a critical turning point for the business. He announced that the freshly raised capital would be used equally for inorganic and organic growth. Furthermore, NIIF has already given iBUS a $200 million USD investment. iBUS has now raised a total of Rs 1,140 crore from investors with this round of funding.
Over the previous five years, iBUS has grown at a remarkable compound annual growth rate of 60–65%. With a projected growth rate of 60–70%, the company hopes to keep up this momentum. iBUS projects that revenue for the fiscal year 2024 will rise by over 40% from the previous year to end at about Rs 256 crore.
About iBUS
iBUS delivers digital infrastructure solutions with a full suite of offerings that enable better networking with businesses and institutions. iBUS is a leading neutral digital infrastructure player, transforming and delivering improved connectivity solutions in India, with the aim to bridge the digital divide.
