Bharti Airtel increases stake in Africa subsidiary to 79%
What's the story
Bharti Airtel has announced a major increase in its stake in Airtel Africa. The company now owns around 79% of the African subsidiary, up from 62.73% before the transaction. The move was made through a share-swap agreement worth approximately ₹28,200 crore. The acquisition was completed on June 22 and involved Bharti Airtel acquiring over 595 million shares from promoter group entity Indian Continent Investment Limited (ICIL).
Deal details
Transaction was a cashless share-swap
The transaction was a cashless share-swap, allowing Bharti Airtel to acquire a significant block and boost its economic interest in a high-growth asset without any additional leverage or cash outflow. The company will issue equity shares to ICIL on a preferential basis in return for its 16.31% stake in Airtel Africa.
Growth potential
Airtel Africa could become a $10 billion revenue company
Bharti Enterprises founder and Chairman Sunil Mittal has said that Airtel Africa could become a $10 billion revenue company in the coming years. He also expects it to be a strong subsidiary of Airtel India, generating handsome returns for the company. The African business has already seen a 29.5% rise in revenue to $6.4 billion in FY26 from $4.9 billion in FY25, largely due to tariff adjustments in Nigeria and foreign exchange gains. Profit for FY26 stood at ₹7,700 crore.