Morgan Stanley-backed iBus Acquires India’s Ubico Networks


Shyam Group, a diversified telecommunications group in India, has divested its privately held Ubico Networks to Morgan Stanley backed iBus Networks & Infrastructure at a consideration value of close to INR 100 crores.

Post this divestment, Shyam Group will continue to focus on its other core businesses which include Shyam Spectra and VNL. Shyam plans to expand the group’s presence and strengthen the portfolio of offerings in the group’s successful network-as-a-service company Spectra.

Shyam Group Logo

It also intends to look at investment opportunities in new-age start-ups focused on offering business solutions. Spectra has evolved to become a partner of choice for organizations for their end-to-end network requirements, especially since the pandemic. The group will recalibrate the efforts to fortify its market position by expanding presence across India and into sunshine sectors.

Ubico is India’s first and largest independent neutral-host infrastructure provider of in-building and in-campus coverage solutions. Founded in 2007 by Udit Mehrotra and Nitin Mehrotra, the second-generation entrepreneurs, Ubico pioneered the neutral-host in-building Distributed Antenna System (DAS) infrastructure sharing in India and its model has since become an industry-standard in the country.

Udit Mehrotra

“We are proud of the value we have created along with our team. We are happy to have found like-minded promoters and management in iBus Networks that have attracted world-class advisors and reputed investors like Morgan Stanley. We believe that our customers and real estate partners will be well cared for with this transaction, and we are thankful to them for helping Ubico establish a new industry in the country,” said Udit Mehrotra of Shyam Group.

Ubico currently covers over 200 million sq. ft in 42 cities with an average tenancy of 1.5 spread across 600 buildings and campuses. Ubico’s spread includes hotels, hospitals, IT parks, commercial office space, malls and educational institutes, with many leading real estate developers across the country.