48232
IBUS NETWORK AND INFRASTRUCTURE PRIVATE LIMITED
Apr 30, 2024
India
South Asia
Aug 9, 2024
B - Limited
Active
Approved : Jun 12, 2024
Signed : Jul 19, 2024
Invested : Jul 30, 2024
Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
Telecommunications and Technology
Regional Industry - INF Asia & Pac
The proposed IFC transaction is an equity investment of up to US$35 million in iBus Network and Infrastructure Private Limited (“iBus”, or the “Company”) which provides host-neutral in-building connectivity solutions (IBS) in India and serves hospitality customers through managed Wi-fi services (MWS). IFC investment will be used to buy secondary shares of existing investors in order to provide non-commercial risk mitigation and capacity building on areas including Environmental, Social and Governance.
For more company information, see their Internet site here: https://ibusglobal.com/
The proposed project involves a significant expansion of outdoor connectivity technologies in densely populated areas in 70+ cities in India, and indoor connectivity technologies in areas like metro stations, airports, and tunnels, as well as Wi-Fi in hotels, education campuses, hospitals, and malls.
IFC E&S due diligence included in person site visits to iBus corporate office, and a sample of company In-Building connectivity Solutions (IBS) and Managed Wi-fi Services (MWS) operations in Bangalore on 19-22 June 2023. IFC met with iBus managers and various technical specialists including the Heads of Human Resources (HR) and Environment, Social, and Governance (ESG). IFC reviewed an iBus investor’s Annual E&S Monitoring report (May 2023) that evaluated company performance against IFC Performance Standards (PS). IFC also reviewed iBus ESG Management System, Human Resources (HR), and Health and Safety related policies and programs, among others.