Debt financing
Network solutions provider CloudExtel raises Rs.200-Cr from NIIF IFL, ABFL
Mumbai-based, Macquarie Capital-backed Network-as-a-Service provider CloudExtel has received INR 150 crore in external debt from NIIF Infrastructure Finance Ltd (NIIF IFL) and an additional INR 50 crore from Aditya Birla Finance Ltd (ABFL) to grow its market presence in fibre and small cells deployment.The funding is expected to strengthen the firm’s position to effectively respond to market opportunities.CloudExtel had sold a 51% controlling stake to Macquarie Capital for USD 100 million in May, 2023, buying out Bombay Gas Company’s shares in the company. Later, digital infrastructure ventures investor Advencap acquired part of Macquarie Capital’s shares in the company in October, 2023.
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