Telecom Titans Vodafone and Bharti Airtel will give iBus Their Whole Stake in the Joint Venture
According to reports, iBus Network and Infrastructure Pvt. has inked a share purchase deal with telecom carriers Bharti Airtel and Vodafone Idea to transfer their full ownership of the joint venture Firefly Networks Ltd. According to exchange filings, both telecom companies would sell their 50% ownership in Firefly Networks to iBus Network for a total cash consideration of INR 4.5 Cr each. It is expected that the transaction will close within 30 business days of the parties' agreement being executed.
Firefly will no Longer be a Part of JV
After the completion of this transaction, Firefly Networks will no longer be a joint venture between Vodafone Idea and Bharti Airtel. The filing states that the transaction is not categorised as a related-party transaction and that closing conditions must still be met. In a separate filing, Vodafone Idea stated that it would earn INR 4.5 Cr for the sale of its full 50% stake in Firefly. Wi-Fi hotspots are managed and monetised by Firefly, which also supplies Wi-Fi infrastructure to partners in major Indian cities, including public areas, malls, cafes, hospitals, corporate parks, and transit hubs. iBus Network and Infrastructure, which is backed by investors like the International Finance Corporation and the National Investment and Infrastructure Fund, specialises in providing Wi-Fi managed services and in-building telecom network solutions.
About iBus
iBUS, which was founded in 2013 by Ram Sellaratnam, Subash Vasudevan, and Sunil Menon, provides cellular and Wi-Fi access at various locations, including hospitals, airports, and IT parks. iBus Sync (broadband services), iBus Find (customer behaviour analyser), iBus Talk (data connectivity inside buildings), and iBus Sense (IoT-enabled communication platform) are among its product offerings. To increase its footprint in foreign markets, the firm raised INR 280 Cr (about $34 Mn) a few months ago from the International Finance Corporation (IFC), a part of the World Bank Group.
Current Financial Graph of Vodafone
Vodafone Idea's consolidated revenue from operations climbed by 2.02% year over year from INR 10,716 crore in Q2 FY24 to INR 10,932 crore in Q2 FY25 and by 4.03% quarter over quarter from INR 10,508 crore in Q4 FY24, according to its most recent filing. The quarter ended in September 2024.
From a loss of INR 8,738 crore in Q2 FY24 to a loss of INR 7,176 crore in Q2 FY25, Vodafone's consolidated net loss has dropped 17.87% year over year. The net loss of the company has increased by 11.56% on a quarter-over-quarter basis from INR 6,432 crore in the fourth quarter of 2025.
Nitin Konde
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