Global financial services group Nomura has invested Rs 125 crore in Morgan Stanley-backed telecom infrastructure firm iBus Group, the Bengaluru-based firm.
This strategic investment will enable iBus Group to consolidate and transform digital infrastructure into Wi-Fi managed services and other value-added services.
The company said the funding would also help expand the iBus Group’s global reach through its subsidiaries in Singapore, Dubai and the US.
Subash Vasudevan, iBus Group Director and CBO, said: “With this investment, we envision accelerating the convergence of protocols to expand the digital service experience for our customers. Currently, the digital connectivity infrastructure is skewed towards cities and Tier 1 states/cities in India, leading to a huge digital divide. iBus will now scale and eliminate inefficiencies to fast-track the fundamental digitisation of our economy”.
Ambrish Singh, MD and head of lending and key investments in India at Nomura, said the firm’s investment would enable iBus to drive consolidation and expand its digital footprint.