Indus Towers Limited announced the incorporation of two step-down wholly owned subsidiaries in the United Arab Emirates (UAE). These entities, Indus Towers Investment FZE and Indus Towers Ventures FZE, were incorporated on December 18, 2025, as confirmed by their Certificates of Incorporation. These newly formed subsidiaries are intended to explore investment opportunities in African markets, with initial focus on countries such as Nigeria, Uganda, and Zambia. The contribution to the initial share capital of these entities will be made in cash at face value. Indus Towers FZE, a wholly owned subsidiary of Indus Towers Limited, will hold 100% shares in both Indus Towers Investment FZE and Indus Towers Ventures FZE. The subsidiaries are incorporated in Dubai World Trade Centre and are yet to commence their business operations. While these entities are considered related parties to Indus Towers Limited, the Promoter/ Promoter Group/ Group Companies do not have any interest in this transaction beyond the aforesaid relationship. The industry to which the entities being acquired belong is Investment in Commercial Enterprises & Management.