Bharti Airtel completes share-swap to raise Airtel Africa stake to about 79%

Bharti Airtel will raise its Airtel Africa stake to about 79% in a $2.9 billion share swap, ahead of a planned Airtel Money listing. The post Bharti Airtel Moves to Take Airtel Africa Private in a $2.9 Billion Deal appeared first on The Rio Times.

Mumbai: Bharti Airtel on June 22, 2026, completed the acquisition of 595,204,251 shares, representing a 16.3 percent stake, in Airtel Africa from Indian Continent Investment Limited (ICIL). The company announced this in an exchange filing on Tuesday.Preferential Allotment to ICILFollowing the acquisition, a Special Committee of Directors for Preferential Issue approved the allotment of 146,761,335 fully paid-up equity shares of face value Rs 5 each to ICIL on a preferential basis.Bharti Airtel Q4 Profit Falls 26% To ₹9,247 Crore Despite Revenue Growth; FY26 Revenue Crosses ₹2.1 Lakh CroreIncreased Stake in Airtel AfricaThis transaction increases Bharti Airtel’s effective stake in its UK-listed subsidiary, Airtel Africa, to approximately 79 percent. The move was approved by the company’s Board of Directors and shareholders.ICIL’s Holding in Bharti AirtelAfter the preferential allotment, ICIL now holds approximately 3.25 percent of Bharti Airtel’s total post-issue equity share capital. This marks a change in the ownership structure following the share swap arrangement.Airtel Q3 FY26 Net Profit Falls 55% YoY Amid High Base Effect, Revenue Grows SteadilyBharti Airtel Paid-up CapitalBharti Airtel’s paid-up equity share capital has increased to Rs 31,201,606,575. This is divided into 6,240,043,648 fully paid-up equity shares of Rs 5 each and 1,110,668 partly paid-up equity shares of Rs 5 each, with a paid-up value of Rs 1.25 each. All necessary statutory and regulatory approvals for the composite transaction have been received.

New Delhi: Bharti Airtel has raised its stake in Airtel Africa by 16.31 per cent to about 79 per cent through a share-swap agreement, which is estimated to be around Rs 28,200 crore, according to a company filing on Tuesday.Before the transaction, Bharti Airtel held 62.73 per cent in Airtel Africa."The company completed the acquisition of 595,204,251 shares (around 16.3 per cent stake) of Airtel Africa, from ICIL on June 22, 2026. Consequently, the company's effective stake in Airtel Africa has increased to around 79 per cent," Bharti Airtel said in the filing.Also read: Vodafone Idea raises Rs 1,182 crore from promoter Aditya Birla GroupThe transaction involves Bharti Airtel issuing equity shares to Indian Continent Investment Limited (ICIL), a promoter group entity, on a preferential basis, in exchange for its 16.31 per cent stake in Airtel Africa.The transaction, being a cashless share-swap, presents an opportunity to the company to acquire a large block and increase its economic interest in a high-growth asset without any incremental leverage or cash outflow, the statement said.In the last earnings of Bharti Airtel for the March 2026 quarter, Bharti Enterprises Founder and Chairman Sunil Bharti Mittal had outlined a plan to increase promoters shareholding in group companies.Mittal estimated that Airtel Africa in the next few years will become a USD 10 billion revenue company and a very strong subsidiary of Airtel India generating very handsome returns for the company.Also read: DoT retains backhaul spectrum pricing, rejects Trai's cut proposalAirtel Africa, has posted over two-fold jump in profit to USD 813 million (about Rs 7,700 crore) for FY26, mainly driven by tariff adjustments in Nigeria and forex gains.The Africa business had reported a 29.5 per cent increase in revenue to USD 6.4 billion in FY26 from USD 4.9 billion in FY25.

Telecom major acquires 16.3% stake from ICIL and issues fresh shares in a composite transaction

Bharti Airtel shareholders back Africa stake consolidation via Rs 28,200-cr share swap deal