Morgan Stanley India Infrastructure acquires stake in iBus Networks ANI | Updated: Apr 10, 2021 14:22 IST
Mumbai (Maharashtra) [India], Apr 10 (ANI): Morgan Stanley India Infrastructure has made an investment of Rs 150 crore to acquire a stake in iBus which offers in-building wireless solutions, outdoor small cells and other last-mile connectivity solutions to mobile operators to enable them to serve their customers seamlessly.
The company currently deploys its infrastructure across 233 commercial, residential and retail sites across the country with a tenanted area of 276 million square feet. Cipher-Plexus Capital Advisor was exclusive advisor for the transaction. Connectivity is fundamental to large developing digital economies like India and our mission is to build an end-to-end intelligent, scalable and convergent connectivity ecosystem, said Ram Sellaratnam, Sunil Menon and Subash Vasudevan, Co-Founders of iBus.
Diagnostics chain HealthMaP looks at merger with iGenetic
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Under the proposed deal, HealthMap will get access to iGenetic’s core markets in Mumbai and other profit-making regions. “The idea is to merge both entities and get bigger. The high-end diagnostic market that iGenetic is into, is a decent margin business, said one of the sources, close to iGenetic.
ET Bureau
HealthMaP Diagnostics, a diagnostic chain controlled by Manipal Group and a private equity fund managed by Morgan Stanley, is looking to merge with Mumbai-based iGenetic Diagnostics, valuing the company at 750 -1,000 crore in a continued sign of M&A and PE activity in the diagnostic space.
Morgan Stanley India Infrastructure on Thursday said it has invested Rs 180 crore to acquire stake in LEAP India. Founded in 2013, LEAP India is an asset pooling company dedicated to providing dependable and cost-effective solutions to supply chains across India, according to a statement. The company has an asset pool of approx 4 million units, including pallets, foldable large containers (FLC), crates and utility boxes, it said. LEAP now aims to achieve a total asset pool of 6 million and provide technologically advanced products to the market, its founder promoter and managing director Sunu Mathew said. Its business is linked to India s consumption story and primarily caters to fast-moving consumer goods (FMCG), consumer durables, beverages, e-commerce, retail, auto and auto-component manufacturing sectors, Morgan Stanely said in the statement.