iBUS Network Secures $34M from IFC for Global Expansion

iBUS Network and Infrastructure has raised Rs 280 crore (USD 34 million) from International Finance Corporation. This funding supports their international expansion plans. Earlier, Morgan Stanley and HNI investors exited with returns of 20-45%. The firm projects robust revenue growth in the upcoming fiscal years.

Digital infrastructure company, iBUS Network and Infrastructure, announced on Tuesday that it has secured approximately Rs 280 crore (USD 34 million) from the International Finance Corporation. This major investment aims to bolster the company's international expansion initiatives.

The National Investment and Infrastructure Fund (NIIF), Morgan Stanley, and several High-Net-Worth Individuals (HNI) were among the company's initial investors. iBUS specializes in providing in-building telecom network solutions and Wi-Fi managed services. According to Chief Business Officer Subash Vasudevan, Morgan Stanley and HNI investors have exited with returns ranging from 20-45%.

Vasudevan highlighted that the IFC investment stands as a significant milestone for the company. He noted that the recently secured funds would be utilized equally for both organic and inorganic expansion. Additionally, NIIF had previously invested USD 200 million in iBUS. With this round of funding, iBUS has raised a total of Rs 1,140 crore from investors to date.

iBUS has experienced impressive growth, with a compound annual growth rate of 60-65% over the past five years. The company aims to maintain this momentum, projecting a 60-70% growth rate. For the fiscal year 2024, iBUS expects a revenue increase of around 40% year-over-year, closing with approximately Rs 256 crore.

(With inputs from agencies.)