Indus Towers Incorporates Wholly Owned Subsidiary in GIFT City, Gujarat
Indus Towers Limited has announced the incorporation of its Wholly Owned Subsidiary (WOS) in the Gujarat International Finance Tec-City (GIFT City), Gujarat, India. The new entity, named Indus Towers Global Ventures IFSC Limited, received its Certificate of Incorporation on April 28, 2026.The WOS is positioned to serve as a key corporate mechanism for the company. It will primarily function as an investment holding company for Indus Towers Limited's overseas subsidiaries. Additionally, the subsidiary will undertake treasury functions and other related activities permitted under the IFSC framework for the benefit of the company and its subsidiaries.
Details of the Subsidiary
The establishment of the WOS represents a significant step in the company's global operational structure. Key details regarding the newly formed entity and the investment transaction are outlined below:| Parameter | Details |
|---|---|
| Name of the Target Entity | Indus Towers Global Ventures IFSC Limited |
| Date of Incorporation | April 28, 2026 |
| Location | GIFT City, Gujarat, India |
| Share Capital | 20,00,000 equity shares of ₹10 each |
| Nature of Interest | The entity is a WOS and thus a related party to the Company. |
| Total Cost of Acquisition | ₹ 2,00,00,000 |
| Percentage of Shareholding | 100% (held by Indus Towers Limited) |
| Business Status | Not applicable (yet to commence business operations) |
The incorporation confirms that the company has acquired 100% shareholding of Indus Towers Global Ventures IFSC Limited through cash consideration, comprising 20,00,000 equity shares of ₹10 each, aggregating to ₹ 2,00,00,000.
INDUSTOWER Stock Price Movement
On Tuesday, Indus Towers Limited shares edged higher, closing at ₹413.95 after rallying 3.03% for the day. The equity saw substantial interest, finalizing the trading session with a robust total volume of 9.68 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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