IFC has also bought a minority stake in the Bengaluru-based company on the back of this investment.
With the fundraise, Morgan Stanley along with high net-worth individual (HNI) investors have exited the company with a return in the range of 20%-45%,
The recent funding also comes a few months after NIIF acquired a majority stake in iBUS for INR 1,658 Cr (around $200 Mn).
Digital infrastructure solutions startup iBUS has raked in INR 280 Cr (around $34 Mn) from the World Bank Group’s arm International Financial Corporation (IFC) to expand its footprint in the overseas market.
As per news agency PTI, IFC has also bought a minority stake in the Bengaluru-based company on the back of this investment.