Indus Towers Limited has received approval from its Committee of Directors to establish a wholly owned subsidiary in Gujarat International Finance Tec-City (GIFT City), Gujarat. The decision was made during a board meeting held on January 22, 2026, marking a strategic expansion of the company's corporate structure.

Strategic Purpose and Functions

The proposed subsidiary will serve multiple strategic functions for Indus Towers. The entity will primarily function as an investment holding company for the company's overseas subsidiaries while also undertaking treasury functions and other related activities permitted under the International Financial Services Centre (IFSC) framework.

Investment Details

The financial commitment for this new venture involves substantial investment from the parent company:

Regulatory Framework and Approvals

The incorporation of the new subsidiary requires several regulatory clearances. The establishment is subject to approval from the Ministry of Corporate Affairs (MCA) and other relevant statutory and regulatory authorities as applicable. The proposed entity will be incorporated upon receipt of necessary approvals, including the incorporation certificate from relevant authorities.

Corporate Governance and Related Party Considerations

Once incorporated, the subsidiary will be classified as a related party to Indus Towers Limited. However, the company has disclosed that promoters, promoter groups, and group companies have no specific interest in this proposed transaction beyond the standard corporate relationship. All future transactions with the wholly owned subsidiary will be conducted on an arm's length basis, ensuring compliance with corporate governance standards.

Timeline and Implementation

The Committee of Directors meeting, which approved this incorporation, commenced at 12:45 p.m. IST and concluded at 1:30 p.m. IST on January 22, 2026. The completion timeline for the subsidiary's establishment depends on receiving necessary regulatory approvals, with the entity name subject to approval by relevant authorities.

This strategic move positions Indus Towers to enhance its overseas investment management capabilities while leveraging the benefits of the GIFT City IFSC framework for treasury and related financial operations.

Indus towers Limited has announced the incorporation of a new step-down subsidiary in Uganda, marking its continued expansion in the African telecommunications infrastructure market. The company disclosed this development to the stock exchanges on January 20, 2026, in compliance with SEBI listing regulations.

Subsidiary Incorporation Details

The new subsidiary, Indus Infra Uganda Limited, was incorporated on January 20, 2026, through Indus Towers Ventures FZE, which is a step-down wholly owned subsidiary of Indus Towers Limited. The incorporation follows the issuance of the Certificate of Incorporation by Ugandan authorities.

Business Objectives and Operations

The newly incorporated entity will operate in the telecom infrastructure sector, focusing on comprehensive telecommunications infrastructure services. The company's primary business objectives include:

• Establishing, erecting, and installing telecommunication towers and masts
• Operating and maintaining telecommunication infrastructure
• Managing poles, antennas, and related wireless communication equipment
• Supporting broadcasting and wireless communication purposes

The subsidiary is positioned to serve the growing telecommunications infrastructure needs in Uganda's expanding digital connectivity market.

Financial and Regulatory Framework

As a step-down subsidiary, Indus Infra Uganda Limited constitutes a related party transaction for Indus Towers Limited. However, the company has confirmed that promoters, promoter groups, and group companies have no additional interest in this transaction beyond the corporate structure.

Strategic Implications

The incorporation of this subsidiary represents Indus Towers' strategic expansion into the Ugandan telecommunications infrastructure market. The entity will complement the company's existing operations by providing localized telecommunications infrastructure services in Uganda. The subsidiary structure enables the company to operate efficiently within the local regulatory framework while maintaining operational control through its step-down subsidiary arrangement.

The new entity is expected to contribute to Uganda's telecommunications infrastructure development, supporting the country's digital transformation initiatives and improving connectivity across the region.