Indus Towers to Set Up GIFT City Hub to Centralise Global Expansion Plans

By Cygnus | 22 Jan 2026

Indus Towers is setting up a wholly owned subsidiary in GIFT City to centralise treasury operations and manage its growing overseas investment portfolio. (AI Generated)

Indus Towers Ltd, India’s largest telecom tower company, is moving to centralise its global financial and investment footprint by setting up a new hub in Gujarat’s GIFT City.

In a regulatory filing on Thursday, the company said its Committee of Directors has approved the incorporation of a wholly-owned subsidiary (WOS) in GIFT City under the International Financial Services Centre (IFSC) framework.

The new entity will operate as a strategic investment holding company for Indus Towers’ expanding overseas interests and also manage centralised treasury functions, including cash pooling, under the IFSC regime.

Strategic vehicle for overseas growth

The move follows a rapid sequence of corporate actions aimed at building an international platform. Between January 15 and January 20, 2026, Indus Towers incorporated three new step-down subsidiaries:

Indus Towers Nigeria Limited
Indus Towers Infra Zambia Limited
Indus Infra Uganda Limited

With a GIFT City holding structure, the company can streamline cross-border investments, internal funding flows, and regulatory processes for overseas transactions — a model increasingly adopted by Indian corporations with international ambitions.

Indus said it will make an initial cash investment of up to ₹20 crore in the new GIFT City subsidiary for 100% ownership, adding that the transaction is being conducted at an arm’s length basis with no share swaps or alternate funding arrangements.

Domestic visibility strengthens global posture

Indus’s overseas push also comes at a time when its domestic outlook has improved, driven largely by better visibility around key customer Vodafone Idea (Vi) following recent government relief measures and policy steps that have supported its cash-flow planning.

The improved clarity has boosted investor confidence in tower cash flows and receivables — a crucial factor for Indus Towers as it funds both domestic rollout requirements and long-horizon international expansion.

Market reaction

Indus Towers shares traded higher on Thursday, touching an intraday high of ₹420.35 and ending near ₹420.20 on the NSE.

The company remains strongly capitalised, with healthy profitability in its most recent reported quarter, positioning it to support a “utility + growth” model — stable domestic tower revenues combined with a longer-term international build-out strategy.

Why This Matters

GIFT City is becoming India’s offshore finance hub
The IFSC framework offers simplified treasury rules and international structuring advantages, attracting more Indian corporates.
Tower operators are globalising
With telecom build-outs accelerating across developing markets, Indian infrastructure players are exploring new international growth corridors.
Improved Vi clarity reduces cash-flow anxiety
Tower businesses are sensitive to delayed payments. More predictable collections strengthen Indus Towers’ ability to fund overseas capex.
This signals Indus’ next growth chapter
The company is positioning itself beyond India’s mature tower market and building a platform for cross-border expansion.

Summary

Indus Towers has approved the incorporation of a wholly-owned subsidiary in GIFT City to serve as a holding and treasury hub for its growing overseas operations. The move follows the creation of step-down subsidiaries in Nigeria, Zambia and Uganda. Backed by improved domestic cash-flow visibility and strong profitability, Indus is building a global structure to support long-term international expansion.

FAQs

Q1: When was the GIFT City subsidiary announced?

Indus Towers disclosed the decision in a regulatory filing on January 22, 2026, after approval by its Committee of Directors.

Q2: What will the new subsidiary do?

It will function as an investment holding company for overseas units and manage centralised treasury functions such as cash pooling within the IFSC framework.