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Bharti Group-owned Airtel Money is preparing for an Initial Public Offering (IPO), with plans to list on the London Stock Exchange despite being primarily an African-based operation. Ian Ferrao, chief executive officer (CEO) of Airtel Money, said shareholders determined London offered the best access to deep capital and global institutional investors.
Valuation and Offering Details
The company is aiming for a valuation of up to $9 billion USD, a figure revised down from an earlier ambition of $10 billion USD due to geopolitical tensions in the West, according to reports. Airtel Money intends to raise approximately $800 million through a secondary offering of existing shares. If successful, this will represent London’s largest IPO since 2021.
Growth and User Base
Airtel Money boasts a substantial user base of around 53 million active customers across 13 African countries. The company’s revenue for the last fiscal year reached $1.4 billion USD. What sets Airtel Money apart is its capital-light business model and impressive annual growth rate of 20%.
Ownership and Market Impact
Airtel Africa, controlled by the Bharti Group, will retain a majority stake in Airtel Money following the IPO. It currently owns approximately 78% of the company. Samuel Kerr, an analyst at the M&A analytics platform, noted that London hasn’t seen a $1 billion-plus IPO since 2021, and this deal would be a significant boost for the exchange.
The initial plan to list Airtel Money was set for the first half of 2026, but was delayed by the aforementioned geopolitical factors.
