Indus Towers has received approval from Board of Directors for incorporation of a wholly owned subsidiary in United Arab Emirates (UAE). The proposed entity will, inter-alia, consider investment in African markets starting with Nigeria, Uganda and Zambia.
The company shall make an initial investment of upto Rs 20 crore in the proposed wholly owned subsidiary towards subscription of share capital in one or more tranches.
Indus Towers is a telecom tower infrastructure service provider that deploys, owns and manages telecom towers and communication structures, for various mobile operators.
