The iBus Group has raised an investment of Rs 1.25 billion from Nomura, a global financial services group. The strategic investment is aimed at enabling iBus Group’s consolidation and transformation of digital infra in Wi-Fi managed services and other value-added services. The funding will also enable to expand the iBus Group’s presence globally through its subsidiaries in Singapore, Dubai and the United States. The Cipher-Plexus Capital Advisor was the exclusive advisor for the transaction.
Commenting on the development, Subash Vasudevan, director and CBO, iBus Group, said, “Our consolidated strengths will enable us to scale our end-to-end intelligent, and convergent connectivity ecosystem. With this investment, we envision accelerating the convergence of protocols to amplify the experience of digital services for our customers. Currently, digital connectivity infrastructure is skewed towards urban and tier-I states/cities in India resulting in a huge digital divide. iBus will now build scale and eliminate inefficiencies to fast track the essential digitalisation of our economy.”
Meanwhile, Ambrish Singh, managing director and head of Loans and Principal Investments, Nomura India, said, “We are delighted to participate in the growth journey of iBus. Our investment will allow the company to drive consolidation and scale its digital footprint.”
iBus group-owned multidimensional networks are deployed across 1 billion sq. ft. area with 750 sites in 52 cities. The aspect of managing Wi-Fi along with the existing business of building neutral host passive and active in-building solution (IBS) networks across various venues in India, shall enable the iBus group to become one of the largest multi-dimensional connectivity network operators in the country. Additionally, the company will offer its internet of things (IoT) solutions to its existing and new customers on its world-class connectivity platform.
Additionally, Kunal Kumthekar, founder and managing director, Cipher-Plexus Capital Advisor, said, “iBus is poised for a major growth through the acquisitions and having backing from quality investors is an asset.”