Mumbai, Sept. 3 -- The board cleared plans to enter Nigeria, Uganda, and Zambia, citing growth potential in emerging geographies. The company said the move would help diversify revenues, enhance operational scalability, and create long-term value. Indus Towers plans to leverage its strong financial position and anchor customer relationship with Bharti Airtel to build a competitive presence in these regions. Future expansion into other African markets where Airtel operates is also under evaluation.

However, the announcement failed to excite investors. Market participants flagged potential challenges including regulatory hurdles, political instability, economic volatility, and currency fluctuations across African nations. Analysts also poi...