Home / Companies / News /  iBus Networks plans to raise $200 mn from PE investors to fund growth, acquisitions

Morgan-Stanley Infrastructure-backed iBus Network and Infrastructure Pvt. Ltd is looking to raise $200 million from private equity investors. iBus , which offers in-building solutions to enterprises, is exploring more inorganic opportunities, after acquiring a clutch of companies in the passive telecom infrastructure space over the past two years.

Talks have been initiated for raising the funds, part of which will be used towards capex and organic growth, as it seeks to expand services and solutions into 5G, Internet of Things and wi-fi, two people in the know said seeking anonymity.

“They’re raising $200 million and the talks have begun," an industry executive said.

Queries to iBus did not elicit any response till press time.

Earlier, the company said it aims to build on existing verticals and expand into hospitals, airports and high-end residences, besides foraying into overseas markets. IBus has applied for spectrum for deploying 5G private captive networks.

However, the government is yet to come up with the guidelines for issuing airwaves for such networks. This could be the largest fund raise by the company which raised 125 crore from Japanese financial services group Nomura last year in September, and in April last year, it raised 150 crore from Morgan Stanley’s North Haven India Infrastructure fund. Previously, it has raised $40 million from investors including Enam’s Vallabh Bhanshali, US-based N Squared, TV Mohandas Pai, and others.

It has acquired companies to expand its portfolio of services amid the rapid scaling up of 5G networks by Indian telecom service providers, and growing investments by enterprises on automation and digitization.

Earlier this year, the Bengaluru-based services provider had picked up a 100% stake in Chennai-based Microsense Networks, which operates in India besides in the US, UAE, Sri Lanka and the Maldives. iBus offers wi-fi infrastructure across hospitality and retail businesses such as malls and hotels. It is looking at the 5G space in India to offer wi-fi infrastructure to telecom service providers allowing them to offload traffic from their core networks.

In 2022, iBus had acquired D-VoiS Communications’ wi-fi managed service assets to get access to education and co-living sectors, besides hospitality.

It also acquired Ubico Networks, which designs, deploys and maintains neutral shared in-building passive telecom infrastructure for 100 crore, from Shyam Group, to beef up its neutral in-building as well as in-campus network coverage capabilities. In 2021, it had partnered with iWire Group, an IoT solutions provider for the asset-tracking industry.

Gulveen Aulakh
Gulveen Aulakh is Senior Assistant Editor at Mint, serving dual roles covering the disinvestment landscape out of New Delhi, and the telecom & IT sectors as part of the corporate bureau. She had been tracking several government ministries for the last ten years in her previous stint at The Economic Times. An IIM Calcutta alumnus, Gulveen is fluent in French, a keen learner of new languages and avid foodie.
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