According to the company, the funds raised will be deployed to fund Scalene IBUS' operations through organic and inorganic growth initiatives.
“Digital infrastructure is critical to the growth of our country and with 60 per cent (year-on-year) growth, IBUS is ready to participate and contribute to the India story. We were looking for the right investment partner and With NII we found “a partner who is fully aligned with our vision,” Ram Selaratnam, group CEO of IBUS, said in a statement.
Additionally, the company said the investment will be directed towards developing new infrastructure solutions to meet technological advancements and growing market demands.
Vinoo Giri, Managing Partner, Master Fund at NIIF, said, “Our investment in IBUS is our eighth in infrastructure and second in digital infrastructure, underscoring our confidence in the transformative power of digital technology for India's economy. "
Furthermore, the company noted that this investment is in line with the government's Digital India Mission, which aims to transform the country into a digitally empowered society and global knowledge economy.
“Digital infrastructure is critical to the growth of our country and with 60 per cent (year-on-year) growth, IBUS is ready to participate and contribute to the India story. We were looking for the right investment partner and With NII we found “a partner who is fully aligned with our vision,” Ram Selaratnam, group CEO of IBUS, said in a statement.
Additionally, the company said the investment will be directed towards developing new infrastructure solutions to meet technological advancements and growing market demands.
Vinoo Giri, Managing Partner, Master Fund at NIIF, said, “Our investment in IBUS is our eighth in infrastructure and second in digital infrastructure, underscoring our confidence in the transformative power of digital technology for India's economy. "
Furthermore, the company noted that this investment is in line with the government's Digital India Mission, which aims to transform the country into a digitally empowered society and global knowledge economy.
