Prachur Shah appointed as new CEO and MD of Indus Towers

26 Dec 2022 , 10:43 AM

On Friday, Indus Towers announced that its board of directors had appointed Prachur Sah as managing director and chief executive officer, as well as an additional director. His appointment will be effective from January 3, 2023 and will last for five years.

The appointment, which is subject to shareholder approval, comes after the previous managing director and CEO, Bimal Dayal, resigned to join Adani Transmission as CEO on October 1.

Sah, who graduated from IIT-Bombay with a degree in electrical engineering, is currently the CEO of Vedanta’s oil and gas vertical. In his current position, he is responsible for a business with annual revenue of more than $7 billion, according to a BSE filing by Indus Towers.

Dayal had left Indus Towers after a 12-year tenure, half of which he served as MD and CEO.

At around 10.36 AM, Indus Towers was trading 0.79% higher at Rs191, against previous close of Rs189.50 on NSE. The counter hit intraday high and low of Rs192.50 and Rs188.20 respectively.

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