National Investment and Infrastructure Fund Limited (NIIF)

13.04.2024

 National Investment and Infrastructure Fund Limited (NIIF)

Why in the  news?                                      

Recently NIIF invested $200 million (about Rs 1,660 crore) in connectivity technology firm IBUS Networks & Infrastructure Pvt Ltd to support the development of India's digital infrastructure.

Important points:

• National Investment and Infrastructure Fund Limited has invested in this company from its master fund.
• According to NIIF the funds will be deployed to scale up the operations of IBUS through organic and inorganic growth initiatives.
• The company aims to strengthen its position as a leader in in-building solutions, outdoor small cells and managed WiFi services and expand its presence into new emerging areas such as Internet of Things (IoT) solutions.
• A portion of the funds raised by the company will also be deployed to develop new infrastructure solutions to address emerging market demands and technological advancements.

National Investment and Infrastructure Fund Limited (NIIFL):

• NIIF was launched in February 2015.
• National Investment and Infrastructure Fund Limited (NIIFL) is a government-owned company.
• It maintains an infrastructure investment fund for international and Indian investors supported by the Government of India.
• The objective behind creating this organization was to catalyze capital into the country and support its development needs in all vital sectors.
• NIIFL was approved by the Department of Economic Affairs in August 2015.
• The first meeting of its Governing Council was held in December 2015, after which it was registered with SEBI as a Category II Alternative Investment Fund.

NIIFL Funds:

• NIIF manages three funds: Master Fund, Fund of Funds and Strategic Fund.
• The Master Fund managed by NIIFL is India's largest infrastructure fund, which aims to participate in the strong Indian infrastructure story.
• Master Fund is an infrastructure fund which aims to invest primarily in operating assets in core infrastructure sectors such as roads, ports, airports, power etc.

                                       Source: The hindu