Mobile money arm of Bharti Airtel's Africa subsidiary to file for London IPO
This story was originally published at 15:07 IST on 23 September 2026
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NEW DELHI – Bharti Airtel Ltd.'s indirect subsidiary Airtel Mobile Commerce N. V. Wednesday announced its intention of undertaking an initial public offering and listing its shares on the main board of the London Stock Exchange. The offer will see existing shareholders offloading their stake and no new capital will be raised, as per a statement by Airtel Mobile Commerce.
The indicative price range and offer size will be disclosed in the prospectus, expected to be published in early October. The final offer price is expected to be announced in mid October, according to the statement. International Finance Corp. has entered into an agreement with the company and some of its existing shareholders to purchase up to $90 million worth of shares at the final offer price, subject to certain customary conditions.
Immediately following the listing, the company expects to have a free float of at least 10%, the statement said.
Citigroup Global Markets Ltd. has been appointed as sole sponsor, lead left global coordinator and a joint bookrunner. Barclays Bank PLC, Merrill Lynch International, Goldman Sachs Bank Europe SE and J.P. Morgan Securities plc have been appointed joint global coordinators and joint bookrunners. Absa Bank Ltd., BNP PARIBAS, Emirates NBD Capital Ltd., First Abu Dhabi Bank PJSC, Jefferies International Ltd. and The Standard Bank of South Africa Ltd. have been appointed as joint bookrunners.
Bharti Airtel's subsidiary Airtel Africa plc owns 77.85% of the issued ordinary share capital of Airtel Mobile Commerce. "...following Admission, Airtel Africa expects to remain a long-term strategic shareholder and to support Airtel Money's next phase of development as an independently listed business," the company said in a filing on LSE. Airtel Money is the brand name or operational identifier used by Airtel Mobile Commerce.
Airtel Money is a digital financial services platform operating across 13 African markets. It served about 53 million monthly active users as of June. Its network is powered by a single, fully integrated mobile money platform, built once and replicated across all 13 markets. The company recorded revenue of $1.35 billion for FY26 alonside earnings before interest, tax, depreciation, and amortisation of $676 million and EBITDA margin of 50%. End
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Reported by Shakshi Jain
Edited by Avishek Dutta
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