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Morgan Stanley’s local infrastructure fund picks up stake in iBus

Morgan Stanley’s local infrastructure fund picks up stake in iBus
Photo Credit: Reuters
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Morgan Stanley’s India Infrastructure Fund has acquired a stake in iBus Network and Infrastructure for Rs 150 crore ($20 million), the companies said in a statement.

iBus offers in-building wireless solutions, outdoor small cells and other last-mile connectivity solutions to mobile operators to enable them to serve their customers. 

The company deploys its infrastructure across 233 commercial, residential and retail sites across the country with a tenanted area of 276 million square feet.

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“Distributed Antenna Systems such as in-building solutions have been fragmented and silo-ed for a long time. With this investment, iBus will build scale and eliminate inefficiencies to fast-track digitisation of our economy,” said Ram Sellaratnam, Sunil Menon and Subash Vasudevan, co-founders of iBus.

Cipher-Plexus Capital Advisor was the exclusive advisor for the transaction.

The statement said that the growth of iBus is intricately linked to India’s data consumption and digital infrastructure story. 

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The firm also provides other solutions such as O-RAN deployment and data analytics.

“We are excited to partner with a management team that is establishing itself as the in-building solutions partner of choice for telecom operators. Our investment will allow iBus to drive consolidation and scale in a fragmented industry while enhancing the mobile user experience,” said Raja Parthasarathy, managing director and co-head of the India Infrastructure Fund.

Founded in 2013 by three first-generation entrepreneurs, iBus has previously raised capital from investors and family offices.

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The India Infrastructure Fund is a platform of Morgan Stanley Infrastructure Partners. In India, it has invested in Unison Enviro, a city gas distribution company; HealthMap Diagnostics; and LEAP India, which specialises in supply chain solutions such as pooling of pallets.


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