Telecom infrastructure company Indus Towers Limited on Tuesday (September 2) announced that its board of directors, at a meeting held earlier in the day, reviewed and deliberated on strategic opportunities to expand the company’s footprint across select international markets.The board has approved Indus Towers’ entry into African markets, beginning with Nigeria, Uganda, and Zambia. According to the company, these markets provide attractive prospects for revenue diversification, operational scalability, and long-term value creation.The company said it will leverage its financial strength and its anchor customer relationship with Bharti Airtel to establish a strong and competitive presence in these regions.
Also Read: Indus Towers shares down 5% after Q1 EBITDA miss, margin contracts and tower additions declineAs part of its growth strategy, Indus Towers will continue to evaluate expansion opportunities in other African markets where Airtel already has an established presence.
The company noted that this direction aligns with the government’s broader vision of encouraging Indian enterprises to expand globally and evolve into multinational entities.”The above is subject to necessary approvals and compliance with applicable laws and regulatory requirements. Further disclosures will be made as and when material developments occur,” it added.Also Read: Indus Towers Q3 profit soars 160%, revenue rises to ₹7,547 crorePrachur Sah, Managing Director and CEO, Indus Towers, said, “The board’s approval to enter international markets in Africa unlocks our vision for long-term sustainable growth and value creation for our shareholders. By leveraging our expertise in delivering innovative and cost-effective solutions, we are well-positioned to differentiate ourselves in Africa’s fast-growing telecom market and emerge as the preferred tower company.”Shares of Indus Towers Ltd ended at ₹329.40, down by ₹10 or 2.95%, on the BSE today (September 2).Also Read: Indus Towers Bonus, Dividend Alert: Board meet on April 30 to reward 4 lakh small shareholders
