Bharti Airtel
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NEW DELHI, July 10 (Reuters) - Units in India's Gujarat International Finance Tec-City (GIFT City) will be exempt from the licensing requirement for chartering foreign vessels for export and import cargo movement, and international trade operations, the government said on Friday.
GIFT city is being set up in Prime Minister Narendra Modi's home state of Gujarat, in the country's west, and offers easier tax rules and regulations.
It is being promoted by the government as a financial centre to rival Singapore and Dubai.
The exemption from licensing is an effort to simplify the regulatory framework governing the chartering of foreign vessels for international shipping operations, the shipping ministry said in a statement.
It is expected to promote maritime leasing, ship financing, and ship-owning activities through Gift City, it said.
Reuters reported in May that telecom operator Bharti Airtel, U.S.-based Genpact, and autoparts giant ZF Friedrichshafen were among the companies setting up treasury operations in Gift City.
(Reporting by Sakshi Dayal and Tanvi Mehta, Editing by Louise Heavens)
(([email protected]; X: @sakshi_dayal;))
NEW DELHI, July 10 (Reuters) - Units in India's Gujarat International Finance Tec-City (GIFT City) will be exempt from the licensing requirement for chartering foreign vessels for export and import cargo movement, and international trade operations, the government said on Friday.
GIFT city is being set up in Prime Minister Narendra Modi's home state of Gujarat, in the country's west, and offers easier tax rules and regulations.
It is being promoted by the government as a financial centre to rival Singapore and Dubai.
The exemption from licensing is an effort to simplify the regulatory framework governing the chartering of foreign vessels for international shipping operations, the shipping ministry said in a statement.
It is expected to promote maritime leasing, ship financing, and ship-owning activities through Gift City, it said.
Reuters reported in May that telecom operator Bharti Airtel, U.S.-based Genpact, and autoparts giant ZF Friedrichshafen were among the companies setting up treasury operations in Gift City.
(Reporting by Sakshi Dayal and Tanvi Mehta, Editing by Louise Heavens)
(([email protected]; X: @sakshi_dayal;))
July 1 (Reuters) - Bharti Airtel Ltd BRTI.NS:
AIRTEL MONEY COMMENCES COMMERCIAL OPERATIONS AS TYPE II NON-DEPOSIT ACCEPTING NBFC
Source text: [ID:]
Further company coverage: BRTI.NS
(([email protected];;))
July 1 (Reuters) - Bharti Airtel Ltd BRTI.NS:
AIRTEL MONEY COMMENCES COMMERCIAL OPERATIONS AS TYPE II NON-DEPOSIT ACCEPTING NBFC
Source text: [ID:]
Further company coverage: BRTI.NS
(([email protected];;))
June 30 (Reuters) - Bharti Airtel Ltd BRTI.NS:
BHARTI AIRTEL - DOT ASSAM IMPOSES PENALTY OF 620,000 RUPEES
Source text: ID:nPLX2MS0BF
Further company coverage: BRTI.NS
(([email protected];))
June 30 (Reuters) - Bharti Airtel Ltd BRTI.NS:
BHARTI AIRTEL - DOT ASSAM IMPOSES PENALTY OF 620,000 RUPEES
Source text: ID:nPLX2MS0BF
Further company coverage: BRTI.NS
(([email protected];))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, June 22 (Reuters Breakingviews) - Mukesh Ambani is making bold promises about connectivity. But he has already disappointed the A-list backers in his telecoms company. And the billionaire's latest pledges that the business will tighten its grip on India's data market and push into foreign ones deserve more scepticism from investors considering jumping into its upcoming initial public offering.
Jio Platforms' up to $3.8 billion share sale could be India’s largest listing on record. The company's prospectus filed late on Friday, though, confirmed the company would only be offering new stock. This means the outsiders led by Meta META.O, Alphabet’s GOOGL.O Google and KKR KKR.N which own a third of existing shares, will wait longer to crystallise tepid returns.
In 2020, they bought the promise that $188 billion Reliance Industries RELI.NS would transform Jio into a tech platform offering services from cloud computing to connected homes. Six years on, that target looks far from achieved: Jio still earns 94% of its profit from volume-led monetisation of its 524 million mobile subscribers. And although its 528-page prospectus waxes lyrical about its autonomous platforms and proprietary technology stack, Jio lags its main rival, $123 billion Bharti Airtel BRTI.NS, on basic measures, including EBITDA margins and average revenue per user.
That undercuts Ambani’s latest wide-ranging promises, including a vow to deepen his dominance of the home broadband market, where Jio caters to 43% of India's 64 million premium subscribers. He’s also touting venturing into satellite communications and unnamed markets overseas, including offering its AI engine, JioBrain, to other global telecoms companies.
Out of all of these, Jio's domestic ambitions look most within reach. That said, Indian regulators impose ceilings on some mobile tariffs and it is hard to grow a premium service like broadband in a market where most consumers are poor. Rules on net neutrality may also hamper Ambani's ability to offer business clients higher-yielding differentiated services.
Jio’s targeted $130 billion market capitalisation is already a big step down from the $180 billion price tag bullish analysts assigned it earlier this year before the Iran war knocked the rupee. But even this revised figure will require investors to pay a multiple of 35 times Jio’s earnings for 2027, per Visible Alpha estimates. Compare that to 30 times for Airtel, which already generates around one-third of its EBITDA outside of India.
There isn't anything compelling in the Jio filing to support a premium valuation. If Ambani wants his IPO to fly, he may need to trim his ambitions further.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
Jio Platforms, the telecoms business of Reliance Industries, will raise up to $3.8 billion in a Mumbai initial public offering, which could be India's largest on record, Reuters reported on June 19, citing unnamed sources.
The offer will comprise up to 270 million new shares, equivalent to 2.9% of the total enlarged share count, Jio’s prospectus showed. The fundraising target implies a market capitalisation of $130 billion.
Proceeds will be used to repay subsidiary borrowings and general corporate purposes.
The deal has 19 book-running lead managers led by Kotak Mahindra and Morgan Stanley.
Jio is evaluating the development of a sovereign low earth orbit satellite constellation for India, Reliance Chair Mukesh Ambani said at the company's annual shareholder meeting on June 19.
(Editing by Una Galani; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, June 22 (Reuters Breakingviews) - Mukesh Ambani is making bold promises about connectivity. But he has already disappointed the A-list backers in his telecoms company. And the billionaire's latest pledges that the business will tighten its grip on India's data market and push into foreign ones deserve more scepticism from investors considering jumping into its upcoming initial public offering.
Jio Platforms' up to $3.8 billion share sale could be India’s largest listing on record. The company's prospectus filed late on Friday, though, confirmed the company would only be offering new stock. This means the outsiders led by Meta META.O, Alphabet’s GOOGL.O Google and KKR KKR.N which own a third of existing shares, will wait longer to crystallise tepid returns.
In 2020, they bought the promise that $188 billion Reliance Industries RELI.NS would transform Jio into a tech platform offering services from cloud computing to connected homes. Six years on, that target looks far from achieved: Jio still earns 94% of its profit from volume-led monetisation of its 524 million mobile subscribers. And although its 528-page prospectus waxes lyrical about its autonomous platforms and proprietary technology stack, Jio lags its main rival, $123 billion Bharti Airtel BRTI.NS, on basic measures, including EBITDA margins and average revenue per user.
That undercuts Ambani’s latest wide-ranging promises, including a vow to deepen his dominance of the home broadband market, where Jio caters to 43% of India's 64 million premium subscribers. He’s also touting venturing into satellite communications and unnamed markets overseas, including offering its AI engine, JioBrain, to other global telecoms companies.
Out of all of these, Jio's domestic ambitions look most within reach. That said, Indian regulators impose ceilings on some mobile tariffs and it is hard to grow a premium service like broadband in a market where most consumers are poor. Rules on net neutrality may also hamper Ambani's ability to offer business clients higher-yielding differentiated services.
Jio’s targeted $130 billion market capitalisation is already a big step down from the $180 billion price tag bullish analysts assigned it earlier this year before the Iran war knocked the rupee. But even this revised figure will require investors to pay a multiple of 35 times Jio’s earnings for 2027, per Visible Alpha estimates. Compare that to 30 times for Airtel, which already generates around one-third of its EBITDA outside of India.
There isn't anything compelling in the Jio filing to support a premium valuation. If Ambani wants his IPO to fly, he may need to trim his ambitions further.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
Jio Platforms, the telecoms business of Reliance Industries, will raise up to $3.8 billion in a Mumbai initial public offering, which could be India's largest on record, Reuters reported on June 19, citing unnamed sources.
The offer will comprise up to 270 million new shares, equivalent to 2.9% of the total enlarged share count, Jio’s prospectus showed. The fundraising target implies a market capitalisation of $130 billion.
Proceeds will be used to repay subsidiary borrowings and general corporate purposes.
The deal has 19 book-running lead managers led by Kotak Mahindra and Morgan Stanley.
Jio is evaluating the development of a sovereign low earth orbit satellite constellation for India, Reliance Chair Mukesh Ambani said at the company's annual shareholder meeting on June 19.
(Editing by Una Galani; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
Adds fresh details on Jio IPO
MUMBAI, June 19 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms plans to raise around $3.8 billion via a Mumbai listing, sources say, in what could be the country's largest-ever initial public offering.
Here are facts and numbers on Jio Platforms, which houses the world's second-largest telecom company by users after China Mobile 600941.SS.
TELECOM BUSINESS
Reliance Jio Platforms is a unit of Ambani's oil-to-retail conglomerate Reliance Industries RELI.NS. It is most known for the telecom business - Reliance Jio Infocomm, which is the country's biggest player with more than 500 million subscribers.
Launched in 2016, the telecom business, popularly just called Jio, hit rivals such as Bharti Airtel BRTI.NS and Vodafone Idea VODA.NS hard by offering free voice and data plans initially.
The move, in line with Ambani's typical strategy of offering ultra-low prices to lure consumers, drove up its customer base and allowed many Indians to access platforms such as YouTube and Facebook for the first time.
Jio says it currently has a roughly 60% share of India's data traffic.
In recent years, Reliance Jio Platforms has diversified beyond telecom into AI, cloud and enterprise network services, as well as app development. In 2023, Nvidia NVDA.O announced an AI partnership with Reliance to develop cloud infrastructure and language models.
THE LEADERSHIP
Mukesh Ambani, Asia's richest man, is the chairman of Jio Platforms. His three children - Akash, Anant and Isha - serve on its board. Akash Ambani, his elder son, is the chairman of the company's flagship telecom unit, Reliance Jio Infocomm.
Reliance Industries holds a 66.43% stake in Jio Platforms.
Kiran Thomas is the CEO of Jio Platforms.
KEY FINANCIALS, VALUATION
Reliance Jio Platforms' operating revenue in the last financial year ending March 2025 stood at $13.65 billion. But 90% of that came just from the telecom business, which the company says has grown annually by 13% since 2020-21.
Reliance Jio Platforms posted a profit after tax of $2.8 billion in the year.
In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion. Sources told Reuters in January the IPO could be worth as much as $4 billion, though final numbers will only be decided later.
MARQUEE INVESTORS
In 2020, Jio Platforms raised more than $20.5 billion from 13 global investors in exchange for a roughly 33% equity stake, at a valuation range of $57 billion to $65 billion.
Global names such as Meta Platforms META.O, Alphabet GOOGL.O and KKR invested in the firm, as Ambani sought to turn Jio Platforms into the centerpiece of his technology ambitions.
Other investors include General Atlantic, Silver Lake and the Abu Dhabi Investment Authority. Meta owns a 9.9% stake in the company, followed by Google's 7.7% stake.
THE IPO JOURNEY
The filing, which had been targeted for as early as March, had been pushed back as IPO activity slowed following the outbreak of conflict in West Asia, with investors losing their appetite for new listings.
The IPO, previously expected to be a pure offer-for-sale where foreign investors would have sold some of their holdings, will now only be a fresh fund raise.
The company's IPO has been long delayed. In 2019, Ambani said Jio would "move towards" a listing within five years, but later the plans were delayed in 2025.
The company had hired 17 banks to manage its offering.
Operating Revenues - Jio Platforms and Jio's Telecom Business ($ billion) https://reut.rs/4lO0OXt
Reliance Jio Platforms Shareholding https://reut.rs/47c0c7W
Ambani's Reliance Jio hires 17 banks for IPO, will raise no new funds, sources say https://www.reuters.com/world/india/ambanis-reliance-jio-hires-banks-ipo-will-raise-no-new-funds-sources-say-2026-03-18/
(Reporting by Vibhuti Sharma and Aditya Kalra; Editing by Arun Koyyur, Sonali Paul, Elaine Hardcastle)
(([email protected];))
Adds fresh details on Jio IPO
MUMBAI, June 19 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms plans to raise around $3.8 billion via a Mumbai listing, sources say, in what could be the country's largest-ever initial public offering.
Here are facts and numbers on Jio Platforms, which houses the world's second-largest telecom company by users after China Mobile 600941.SS.
TELECOM BUSINESS
Reliance Jio Platforms is a unit of Ambani's oil-to-retail conglomerate Reliance Industries RELI.NS. It is most known for the telecom business - Reliance Jio Infocomm, which is the country's biggest player with more than 500 million subscribers.
Launched in 2016, the telecom business, popularly just called Jio, hit rivals such as Bharti Airtel BRTI.NS and Vodafone Idea VODA.NS hard by offering free voice and data plans initially.
The move, in line with Ambani's typical strategy of offering ultra-low prices to lure consumers, drove up its customer base and allowed many Indians to access platforms such as YouTube and Facebook for the first time.
Jio says it currently has a roughly 60% share of India's data traffic.
In recent years, Reliance Jio Platforms has diversified beyond telecom into AI, cloud and enterprise network services, as well as app development. In 2023, Nvidia NVDA.O announced an AI partnership with Reliance to develop cloud infrastructure and language models.
THE LEADERSHIP
Mukesh Ambani, Asia's richest man, is the chairman of Jio Platforms. His three children - Akash, Anant and Isha - serve on its board. Akash Ambani, his elder son, is the chairman of the company's flagship telecom unit, Reliance Jio Infocomm.
Reliance Industries holds a 66.43% stake in Jio Platforms.
Kiran Thomas is the CEO of Jio Platforms.
KEY FINANCIALS, VALUATION
Reliance Jio Platforms' operating revenue in the last financial year ending March 2025 stood at $13.65 billion. But 90% of that came just from the telecom business, which the company says has grown annually by 13% since 2020-21.
Reliance Jio Platforms posted a profit after tax of $2.8 billion in the year.
In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion. Sources told Reuters in January the IPO could be worth as much as $4 billion, though final numbers will only be decided later.
MARQUEE INVESTORS
In 2020, Jio Platforms raised more than $20.5 billion from 13 global investors in exchange for a roughly 33% equity stake, at a valuation range of $57 billion to $65 billion.
Global names such as Meta Platforms META.O, Alphabet GOOGL.O and KKR invested in the firm, as Ambani sought to turn Jio Platforms into the centerpiece of his technology ambitions.
Other investors include General Atlantic, Silver Lake and the Abu Dhabi Investment Authority. Meta owns a 9.9% stake in the company, followed by Google's 7.7% stake.
THE IPO JOURNEY
The filing, which had been targeted for as early as March, had been pushed back as IPO activity slowed following the outbreak of conflict in West Asia, with investors losing their appetite for new listings.
The IPO, previously expected to be a pure offer-for-sale where foreign investors would have sold some of their holdings, will now only be a fresh fund raise.
The company's IPO has been long delayed. In 2019, Ambani said Jio would "move towards" a listing within five years, but later the plans were delayed in 2025.
The company had hired 17 banks to manage its offering.
Operating Revenues - Jio Platforms and Jio's Telecom Business ($ billion) https://reut.rs/4lO0OXt
Reliance Jio Platforms Shareholding https://reut.rs/47c0c7W
Ambani's Reliance Jio hires 17 banks for IPO, will raise no new funds, sources say https://www.reuters.com/world/india/ambanis-reliance-jio-hires-banks-ipo-will-raise-no-new-funds-sources-say-2026-03-18/
(Reporting by Vibhuti Sharma and Aditya Kalra; Editing by Arun Koyyur, Sonali Paul, Elaine Hardcastle)
(([email protected];))
June 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening lower on Thursday, with futures FFIc1 down 0.6%.
* SUNDERLAND PLANT: The British government is in advanced talks with Japanese carmaker Nissan 7201.T about providing it financial support in return for a long-term commitment and investment in its Sunderland plant, five sources with knowledge of the discussions said.
* HSBC: HSBC's 0005.HK, HSBA.L Australia unit has admitted to serious failures in protecting customers from scams and could face an A$35 million penalty pending court approval, Australia's corporate regulator said.
* DIAGEO: Diageo's DGE.L new boss, Dave Lewis, has asked executives to cut headcount and other costs as he begins restructuring the struggling spirits group, the Financial Times reported.
* OIL: Oil prices fell over $1 per barrel after the U.S. and Iran signed an interim agreement that would end the Iran war, reopen the Strait of Hormuz and waive U.S. sanctions on Tehran's oil.
* METALS: Copper declined as hawkish Federal Reserve projections outweighed improvement in risk appetite following the U.S.-Iran peace deal.
* GOLD: Gold rose over 1%, recouping losses from the previous session, as a drop in oil prices following a U.S.-Iran interim agreement dampened inflation expectations and supported bullion.
* FTSE: Britain's FTSE indexes closed higher on Wednesday, with gains in miners offsetting broader declines, while investors weighed domestic inflation data ahead of interest rate decisions by the Bank of England and the U.S. Federal Reserve.
* EX-DIVS: Compass Group CPG.L, 3i Group III.L, Airtel Africa AAF.L, Land Securities LAND.L, British Land BLND.L, and Persimmon PSN.L will trade without entitlement to their latest dividend payout on Thursday.
* UK CORPORATE DIARY:
Tesco | TSCO.L | Q1 trading statement |
Whitbread | WTB.L | Q1 trading statement |
FirstGroup | FGP.L | FY results |
* For more on the factors affecting European stocks, please click on: LIVE/
TODAY'S UK PAPERS
> Financial Times PRESS/FT
> Other business headlines PRESS/GB
(Compiled by Neeshita Beura in Bengaluru)
June 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening lower on Thursday, with futures FFIc1 down 0.6%.
* SUNDERLAND PLANT: The British government is in advanced talks with Japanese carmaker Nissan 7201.T about providing it financial support in return for a long-term commitment and investment in its Sunderland plant, five sources with knowledge of the discussions said.
* HSBC: HSBC's 0005.HK, HSBA.L Australia unit has admitted to serious failures in protecting customers from scams and could face an A$35 million penalty pending court approval, Australia's corporate regulator said.
* DIAGEO: Diageo's DGE.L new boss, Dave Lewis, has asked executives to cut headcount and other costs as he begins restructuring the struggling spirits group, the Financial Times reported.
* OIL: Oil prices fell over $1 per barrel after the U.S. and Iran signed an interim agreement that would end the Iran war, reopen the Strait of Hormuz and waive U.S. sanctions on Tehran's oil.
* METALS: Copper declined as hawkish Federal Reserve projections outweighed improvement in risk appetite following the U.S.-Iran peace deal.
* GOLD: Gold rose over 1%, recouping losses from the previous session, as a drop in oil prices following a U.S.-Iran interim agreement dampened inflation expectations and supported bullion.
* FTSE: Britain's FTSE indexes closed higher on Wednesday, with gains in miners offsetting broader declines, while investors weighed domestic inflation data ahead of interest rate decisions by the Bank of England and the U.S. Federal Reserve.
* EX-DIVS: Compass Group CPG.L, 3i Group III.L, Airtel Africa AAF.L, Land Securities LAND.L, British Land BLND.L, and Persimmon PSN.L will trade without entitlement to their latest dividend payout on Thursday.
* UK CORPORATE DIARY:
Tesco | TSCO.L | Q1 trading statement |
Whitbread | WTB.L | Q1 trading statement |
FirstGroup | FGP.L | FY results |
* For more on the factors affecting European stocks, please click on: LIVE/
TODAY'S UK PAPERS
> Financial Times PRESS/FT
> Other business headlines PRESS/GB
(Compiled by Neeshita Beura in Bengaluru)
June 15 (Reuters) - Bharti Airtel Ltd BRTI.NS:
BHARTI AIRTEL- SHAREHOLDERS APPROVED ONGOING TRANSACTION TO CONSOLIDATE STAKE IN UNIT AIRTEL AFRICA PLC
Source text: ID:nnAZN4T2AYK
Further company coverage: BRTI.NS
(([email protected];))
June 15 (Reuters) - Bharti Airtel Ltd BRTI.NS:
BHARTI AIRTEL- SHAREHOLDERS APPROVED ONGOING TRANSACTION TO CONSOLIDATE STAKE IN UNIT AIRTEL AFRICA PLC
Source text: ID:nnAZN4T2AYK
Further company coverage: BRTI.NS
(([email protected];))
The Bombay High Court on June 8 set aside a Rs 8,414 crore demand for one-time spectrum charges that the Department of Telecommunications had pressed against Bharti Airtel since 2013. The court allowed a petition filed by the company challenging the initial notice of Rs 5,201.2 crore, later revised to Rs 8,414 crore. The demand included a Rs 473.7 crore portion relating to Bharti Hexacom, a subsidiary that operates in two telecom circles. The judgment was uploaded on the High Court's website late on June 8.
Powered by Tijori
The Bombay High Court on June 8 set aside a Rs 8,414 crore demand for one-time spectrum charges that the Department of Telecommunications had pressed against Bharti Airtel since 2013. The court allowed a petition filed by the company challenging the initial notice of Rs 5,201.2 crore, later revised to Rs 8,414 crore. The demand included a Rs 473.7 crore portion relating to Bharti Hexacom, a subsidiary that operates in two telecom circles. The judgment was uploaded on the High Court's website late on June 8.
Powered by Tijori
- Airtel Africa plc announced the Sustainability Report 2026 for FY 2025/26, covering connectivity expansion, financial inclusion progress, renewable energy transition.
- Mobile network population coverage rose to 81.9%; rural coverage reached 73.1%; data customer penetration increased to 45.9%.
- Smartphone penetration climbed to 49.5%; MyAirtel app transactions reached USD 8.3 billion; monthly active users hit 10.5 million.
- Airtel Money customer base exceeded 54 million; women represented 44.1%; transaction processed value totaled about USD 196 billion.
- Converted 950+ sites from off-grid to on-grid power; diesel use fell 9.1 million liters; 94% of generated waste was recycled.
- Report posted at https://www.airtel.africa.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Airtel Africa plc published the original content used to generate this news brief on June 09, 2026, and is solely responsible for the information contained therein.
- Airtel Africa plc announced the Sustainability Report 2026 for FY 2025/26, covering connectivity expansion, financial inclusion progress, renewable energy transition.
- Mobile network population coverage rose to 81.9%; rural coverage reached 73.1%; data customer penetration increased to 45.9%.
- Smartphone penetration climbed to 49.5%; MyAirtel app transactions reached USD 8.3 billion; monthly active users hit 10.5 million.
- Airtel Money customer base exceeded 54 million; women represented 44.1%; transaction processed value totaled about USD 196 billion.
- Converted 950+ sites from off-grid to on-grid power; diesel use fell 9.1 million liters; 94% of generated waste was recycled.
- Report posted at https://www.airtel.africa.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Airtel Africa plc published the original content used to generate this news brief on June 09, 2026, and is solely responsible for the information contained therein.
Bharti seeks UK approval to raise BT stake to under 30%, sources say
Bharti spokesman says no current plans to increase stake beyond 24.95%
Any stake above 25% triggers UK review under National Security and Investment Act
BT shares rise close to 4% following the report
Updates May 21 story with share reaction in paragraph 5
By Amy-Jo Crowley
LONDON, May 21 (Reuters) - Indian conglomerate Bharti Enterprises is seeking to potentially increase its stake in BT BT.L to just under the threshold that would require it to make a full takeover offer for the British telecoms group, three people familiar with the matter said.
Led by billionaire founder, Sunil Bharti Mittal, the group is looking to secure UK government approval required for it to be able to increase its stake in the London-listed company, the people said, speaking on condition of anonymity because the matter is private.
It could increase its stake to as much as 29.9% to gain greater economic exposure to BT but does not plan to pursue a full takeover, one of the people said.
A Bharti spokesman said the company is pleased with its current 24.95% shareholding and "currently has no plans to increase its stake." The UK government's Cabinet Office declined to comment. BT referred questions to the UK government and Bharti.
Shares in BT rose as much as 4% in early trading. They were last up nearly 3% at 225.9 pence, outperforming the FTSE 100 .FTSE, which was up 0.3%, and a European index of telecoms shares .SXKP, which rose 1.3%.
Any move by Bharti to increase its stake beyond 25% would have to be reviewed by the government under the National Security and Investment Act, which gives the government greater say over deals where national interests might be involved.
The group first bought a stake in BT in 2024 by acquiring a 24.5% shareholding from Altice's Patrick Drahi, making it a key strategic shareholder in the company. Bharti said at that time it was supportive of BT's executive team and its "ambitious" transformation programme to deliver long-term sustainable growth.
BT shares have risen 55% since its acquisition of the stake, according to LSEG data. The stake is held by Bharti Televentures, according to LSEG data.
BHARTI HAS NO PLANS TO BID FOR ALL OF BT
Bharti, which owns the Bharti Airtel brand operating in 17 countries across South Asia and Africa, said at the time of that acquisition that it did not intend to bid for all of BT, the former state monopoly which is Britain's biggest broadband and mobile company.
In September Mittal, founder and chairman of Bharti Enterprises, and Gopal Vittal, vice chairman and managing director of Bharti Airtel, joined the BT board as non-independent non-executive directors.
The UK approved the purchase in London-listed BT at the end of 2024 after a detailed national security assessment and assurances from the telecoms company. BT established a national security committee to oversee "strategic work that it performs which has an impact on or is in respect of the national security" of the country, the UK government said at the time.
BT shares on a tear since Bharti stake purchase https://www.reuters.com/graphics/BT-BHARTI/STAKE/egvbexgkrpq/chart.png
(Reporting by Amy-Jo Crowley in London. Additional reporting by Paul Sandle. Editing by Anousha Sakoui, Chizu Nomiyama and Tomasz Janowski)
Bharti seeks UK approval to raise BT stake to under 30%, sources say
Bharti spokesman says no current plans to increase stake beyond 24.95%
Any stake above 25% triggers UK review under National Security and Investment Act
BT shares rise close to 4% following the report
Updates May 21 story with share reaction in paragraph 5
By Amy-Jo Crowley
LONDON, May 21 (Reuters) - Indian conglomerate Bharti Enterprises is seeking to potentially increase its stake in BT BT.L to just under the threshold that would require it to make a full takeover offer for the British telecoms group, three people familiar with the matter said.
Led by billionaire founder, Sunil Bharti Mittal, the group is looking to secure UK government approval required for it to be able to increase its stake in the London-listed company, the people said, speaking on condition of anonymity because the matter is private.
It could increase its stake to as much as 29.9% to gain greater economic exposure to BT but does not plan to pursue a full takeover, one of the people said.
A Bharti spokesman said the company is pleased with its current 24.95% shareholding and "currently has no plans to increase its stake." The UK government's Cabinet Office declined to comment. BT referred questions to the UK government and Bharti.
Shares in BT rose as much as 4% in early trading. They were last up nearly 3% at 225.9 pence, outperforming the FTSE 100 .FTSE, which was up 0.3%, and a European index of telecoms shares .SXKP, which rose 1.3%.
Any move by Bharti to increase its stake beyond 25% would have to be reviewed by the government under the National Security and Investment Act, which gives the government greater say over deals where national interests might be involved.
The group first bought a stake in BT in 2024 by acquiring a 24.5% shareholding from Altice's Patrick Drahi, making it a key strategic shareholder in the company. Bharti said at that time it was supportive of BT's executive team and its "ambitious" transformation programme to deliver long-term sustainable growth.
BT shares have risen 55% since its acquisition of the stake, according to LSEG data. The stake is held by Bharti Televentures, according to LSEG data.
BHARTI HAS NO PLANS TO BID FOR ALL OF BT
Bharti, which owns the Bharti Airtel brand operating in 17 countries across South Asia and Africa, said at the time of that acquisition that it did not intend to bid for all of BT, the former state monopoly which is Britain's biggest broadband and mobile company.
In September Mittal, founder and chairman of Bharti Enterprises, and Gopal Vittal, vice chairman and managing director of Bharti Airtel, joined the BT board as non-independent non-executive directors.
The UK approved the purchase in London-listed BT at the end of 2024 after a detailed national security assessment and assurances from the telecoms company. BT established a national security committee to oversee "strategic work that it performs which has an impact on or is in respect of the national security" of the country, the UK government said at the time.
BT shares on a tear since Bharti stake purchase https://www.reuters.com/graphics/BT-BHARTI/STAKE/egvbexgkrpq/chart.png
(Reporting by Amy-Jo Crowley in London. Additional reporting by Paul Sandle. Editing by Anousha Sakoui, Chizu Nomiyama and Tomasz Janowski)
Bharti seeks UK approval to raise BT stake to under 30%, sources say
Bharti spokesman says no current plans to increase stake beyond 24.95%
Any stake above 25% triggers UK review under National Security and Investment Act
By Amy-Jo Crowley
LONDON, May 21 (Reuters) - Indian conglomerate Bharti Enterprises is seeking to potentially increase its stake in BT to just under the threshold that would require it to make a full takeover offer for the British telecoms group, three people familiar with the matter said.
Led by billionaire founder, Sunil Bharti Mittal, the group is looking to secure UK government approval required for it to be able to increase its stake in the London-listed company, the people said, speaking on condition of anonymity because the matter is private.
It could increase its stake to as much as 29.9% to gain greater economic exposure to BT but does not plan to pursue a full takeover, one of the people said.
A Bharti spokesman said the company is pleased with its current 24.95% shareholding and "currently has no plans to increase its stake." The UK government's Cabinet Office declined to comment. BT referred questions to the UK government and Bharti.
Any move by Bharti to increase its stake beyond 25% would have to be reviewed by the government under the National Security and Investment Act, which gives the government greater say over deals where national interests might be involved.
The group first bought a stake in BT in 2024 by acquiring a 24.5% shareholding from Altice's Patrick Drahi, making it a key strategic shareholder in the company. Bharti said at that time it was supportive of BT's executive team and its "ambitious" transformation programme to deliver long-term sustainable growth.
BT shares have risen 55% since its acquisition of the stake, according to LSEG data. The stake is held by Bharti Televentures, according to LSEG data.
BHARTI HAS NO PLANS TO BID FOR ALL OF BT
Bharti, which owns the Bharti Airtel brand operating in 17 countries across South Asia and Africa, said at the time of that acquisition that it did not intend to bid for all of BT, the former state monopoly which is Britain's biggest broadband and mobile company.
In September Mittal, founder and chairman of Bharti Enterprises, and Gopal Vittal, Vice Chairman and Managing Director of Bharti Airtel, joined the BT board as non-independent non-executive directors.
The UK approved the purchase in London-listed BT at the end of 2024 after a detailed national security assessment and assurances from the telecoms company. BT established a national security committee to oversee "strategic work that it performs which has an impact on or is in respect of the national security" of the country, the UK government said at the time.
BT shares on a tear since Bharti stake purchase https://www.reuters.com/graphics/BT-BHARTI/STAKE/egvbexgkrpq/chart.png
(Reporting by Amy-Jo Crowley in London. Additional reporting by Paul Sandle. Editing by Anousha Sakoui and Chizu Nomiyama )
Bharti seeks UK approval to raise BT stake to under 30%, sources say
Bharti spokesman says no current plans to increase stake beyond 24.95%
Any stake above 25% triggers UK review under National Security and Investment Act
By Amy-Jo Crowley
LONDON, May 21 (Reuters) - Indian conglomerate Bharti Enterprises is seeking to potentially increase its stake in BT to just under the threshold that would require it to make a full takeover offer for the British telecoms group, three people familiar with the matter said.
Led by billionaire founder, Sunil Bharti Mittal, the group is looking to secure UK government approval required for it to be able to increase its stake in the London-listed company, the people said, speaking on condition of anonymity because the matter is private.
It could increase its stake to as much as 29.9% to gain greater economic exposure to BT but does not plan to pursue a full takeover, one of the people said.
A Bharti spokesman said the company is pleased with its current 24.95% shareholding and "currently has no plans to increase its stake." The UK government's Cabinet Office declined to comment. BT referred questions to the UK government and Bharti.
Any move by Bharti to increase its stake beyond 25% would have to be reviewed by the government under the National Security and Investment Act, which gives the government greater say over deals where national interests might be involved.
The group first bought a stake in BT in 2024 by acquiring a 24.5% shareholding from Altice's Patrick Drahi, making it a key strategic shareholder in the company. Bharti said at that time it was supportive of BT's executive team and its "ambitious" transformation programme to deliver long-term sustainable growth.
BT shares have risen 55% since its acquisition of the stake, according to LSEG data. The stake is held by Bharti Televentures, according to LSEG data.
BHARTI HAS NO PLANS TO BID FOR ALL OF BT
Bharti, which owns the Bharti Airtel brand operating in 17 countries across South Asia and Africa, said at the time of that acquisition that it did not intend to bid for all of BT, the former state monopoly which is Britain's biggest broadband and mobile company.
In September Mittal, founder and chairman of Bharti Enterprises, and Gopal Vittal, Vice Chairman and Managing Director of Bharti Airtel, joined the BT board as non-independent non-executive directors.
The UK approved the purchase in London-listed BT at the end of 2024 after a detailed national security assessment and assurances from the telecoms company. BT established a national security committee to oversee "strategic work that it performs which has an impact on or is in respect of the national security" of the country, the UK government said at the time.
BT shares on a tear since Bharti stake purchase https://www.reuters.com/graphics/BT-BHARTI/STAKE/egvbexgkrpq/chart.png
(Reporting by Amy-Jo Crowley in London. Additional reporting by Paul Sandle. Editing by Anousha Sakoui and Chizu Nomiyama )
May 21 (Reuters) - Singapore Telecommunications STEL.SI reported a 12.1% rise in annual underlying profit on Thursday, driven by strong contributions from India's Bharti Airtel BRTI.NS and other regional associates.
Southeast Asia's largest telecom operator said underlying net profit was S$2.77 billion ($2.17 billion) for the year ended March 2026, compared with S$2.47 billion in the previous year.
That missed the Visible Alpha consensus estimate of S$2.82 billion.
($1 = 1.2774 Singapore dollars)
(Reporting by Rajasik Mukherjee and Keshav Singh Chundawat in Bengaluru; Editing by Shailesh Kuber)
(([email protected];))
May 21 (Reuters) - Singapore Telecommunications STEL.SI reported a 12.1% rise in annual underlying profit on Thursday, driven by strong contributions from India's Bharti Airtel BRTI.NS and other regional associates.
Southeast Asia's largest telecom operator said underlying net profit was S$2.77 billion ($2.17 billion) for the year ended March 2026, compared with S$2.47 billion in the previous year.
That missed the Visible Alpha consensus estimate of S$2.82 billion.
($1 = 1.2774 Singapore dollars)
(Reporting by Rajasik Mukherjee and Keshav Singh Chundawat in Bengaluru; Editing by Shailesh Kuber)
(([email protected];))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Updates to add graphic.
By Katrina Hamlin
HONG KONG, May 18 (Reuters Breakingviews) - Prudential PRU.L, 2378.HK has a punchy plan to shake up its life insurance business in India: it's buying a controlling stake in Bharti Life Insurance. Tapping its new partner's telco and asset management customers is a risky alternative to the tried-and-tested model of distributing products via a bank but could be an ingenious way to kickstart growth.
The $38 billion group agreed to acquire 75% of Bharti Life from Bharti Life Ventures and 360 ONE Asset Management ONEW.NS for $389 million, it said on Sunday.
That means Prudential CEO Anil Wadhwani is doing a switcheroo: the transaction requires Pru to reduce its stake in an existing venture with ICICI Bank ICBK.NS to under 10%, from 22%, per the company. It could well go on to divest what remains, leaving Bharti as its key partner.
The Indian business is in need of a reboot. New business sales there fell 2% last year, and its ranking among private life insurers fell to fifth from third a year earlier. That was a disappointing result for what ought to be a high-growth market. The world’s most populous country has only 3% penetration in the life insurance space, Prudential reckons.
Wadhwani’s solution is a creative one. Insurers often lean on large banks like ICICI to reach potential policy buyers. But the target’s main attraction is Bharti Airtel’s BRTI.NS nearly 300 million smartphone customers in India, compared with ICICI’s roughly 80 million retail banking clients, per data from Bharti and BCG Matrix. Overlapping markets in Africa could also open up other emerging markets, while the telecom company's asset management arm could help Pru reach India’s high net worth individuals.
But making it work could be tough. JioBlackRock, a joint venture between BlackRock BLK.N and Jio Financial Services JIOF.NS, is tapping additional distributors to sell its products after trying a digital direct model that leaned on its connections to Reliance Jio, India’s largest telecoms group.
And while the deal price seems fair, it’s not a bargain, valuing the company at just over $500 million, or around 1.5 times its embedded value as of September. That’s in line with the average for rivals SBI Life Insurance SBIL.NS, HDFC Life Insurance HDFL.NS and the Life Insurance Corporation of India LIFI.NS, per Visible Alpha, and just below 1.6 times for ICICI Prudential Life Insurance ICIR.NS. Shareholders sent Pru’s stock down 2% in morning trade in Hong Kong. That's probably because Wadhwani's punt for better rewards in India comes with higher risks.
Follow Katrina Hamlin on Bluesky and Linkedin.
CONTEXT NEWS
Insurer Prudential said on May 17 that it has agreed to acquire a 75% stake in Bharti Life Insurance from Bharti Life Ventures and 360 ONE Asset Management for an initial cash consideration of $389 million, with a potential additional consideration of up to $78 million, subject to certain conditions.
Prudential’s Hong Kong-listed shares fell 2.26% to HK$116.8 in morning trade on May 18.
ICICI Prudential Life Insurance's growth has slowed in recent years https://www.reuters.com/graphics/BRV-BRV/zdpxgbdybvx/chart.png
(Editing by Antony Currie; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on HAMLIN/[email protected]; Reuters Messaging: [email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Updates to add graphic.
By Katrina Hamlin
HONG KONG, May 18 (Reuters Breakingviews) - Prudential PRU.L, 2378.HK has a punchy plan to shake up its life insurance business in India: it's buying a controlling stake in Bharti Life Insurance. Tapping its new partner's telco and asset management customers is a risky alternative to the tried-and-tested model of distributing products via a bank but could be an ingenious way to kickstart growth.
The $38 billion group agreed to acquire 75% of Bharti Life from Bharti Life Ventures and 360 ONE Asset Management ONEW.NS for $389 million, it said on Sunday.
That means Prudential CEO Anil Wadhwani is doing a switcheroo: the transaction requires Pru to reduce its stake in an existing venture with ICICI Bank ICBK.NS to under 10%, from 22%, per the company. It could well go on to divest what remains, leaving Bharti as its key partner.
The Indian business is in need of a reboot. New business sales there fell 2% last year, and its ranking among private life insurers fell to fifth from third a year earlier. That was a disappointing result for what ought to be a high-growth market. The world’s most populous country has only 3% penetration in the life insurance space, Prudential reckons.
Wadhwani’s solution is a creative one. Insurers often lean on large banks like ICICI to reach potential policy buyers. But the target’s main attraction is Bharti Airtel’s BRTI.NS nearly 300 million smartphone customers in India, compared with ICICI’s roughly 80 million retail banking clients, per data from Bharti and BCG Matrix. Overlapping markets in Africa could also open up other emerging markets, while the telecom company's asset management arm could help Pru reach India’s high net worth individuals.
But making it work could be tough. JioBlackRock, a joint venture between BlackRock BLK.N and Jio Financial Services JIOF.NS, is tapping additional distributors to sell its products after trying a digital direct model that leaned on its connections to Reliance Jio, India’s largest telecoms group.
And while the deal price seems fair, it’s not a bargain, valuing the company at just over $500 million, or around 1.5 times its embedded value as of September. That’s in line with the average for rivals SBI Life Insurance SBIL.NS, HDFC Life Insurance HDFL.NS and the Life Insurance Corporation of India LIFI.NS, per Visible Alpha, and just below 1.6 times for ICICI Prudential Life Insurance ICIR.NS. Shareholders sent Pru’s stock down 2% in morning trade in Hong Kong. That's probably because Wadhwani's punt for better rewards in India comes with higher risks.
Follow Katrina Hamlin on Bluesky and Linkedin.
CONTEXT NEWS
Insurer Prudential said on May 17 that it has agreed to acquire a 75% stake in Bharti Life Insurance from Bharti Life Ventures and 360 ONE Asset Management for an initial cash consideration of $389 million, with a potential additional consideration of up to $78 million, subject to certain conditions.
Prudential’s Hong Kong-listed shares fell 2.26% to HK$116.8 in morning trade on May 18.
ICICI Prudential Life Insurance's growth has slowed in recent years https://www.reuters.com/graphics/BRV-BRV/zdpxgbdybvx/chart.png
(Editing by Antony Currie; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on HAMLIN/[email protected]; Reuters Messaging: [email protected]))
May 17 (Reuters) - Prudential PLC PRU.L:
PRUDENTIAL PLC: REPOSITIONS ITS INDIA OPERATIONS THROUGH A CONTROLLING STAKE IN BHARTI LIFE INSURANCE
PRUDENTIAL: AS PART OF A STRATEGIC REPOSITIONING OF INDIA OPERATIONS HAS AGREED TO ACQUIRE A 75% STAKE IN BHARTI LIFE INSURANCE COMPANY LIMITED
PRUDENTIAL: TRANSACTION IS FOR AN INITIAL CASH CONSIDERATION OF ₹3,500 CRORE PAYABLE ON COMPLETION
PRUDENTIAL: THERE IS POTENTIAL ADDITIONAL CONSIDERATION PAYABLE OF UP TO ₹700 CRORE, DEPENDENT ON THE FULFILMENT OF CERTAIN CONDITIONS.
PRUDENTIAL: AS PART OF THE TRANSACTION, BHARTI LIFE WILL ALSO LOOK INTO SECURING STRATEGIC DISTRIBUTION AGREEMENTS WITH BHARTI AIRTEL AND 360 ONE
PRUDENTIAL: AS PART OF THE TRANSACTION, BHARTI LIFE WILL ALSO LOOK INTO SECURING STRATEGIC DISTRIBUTION AGREEMENTS WITH BHARTI AIRTEL AND 360 ONE
PRUDENTIAL: REGULATORY APPROVALS FOR THE TRANSACTION ARE EXPECTED TO REQUIRE PRUDENTIAL TO REDUCE ITS SHAREHOLDING IN ICICIPRU LIFE TO UNDER 10%
Source text: https://tinyurl.com/5n8r34wr
Further company coverage: PRU.L
(([email protected];))
May 17 (Reuters) - Prudential PLC PRU.L:
PRUDENTIAL PLC: REPOSITIONS ITS INDIA OPERATIONS THROUGH A CONTROLLING STAKE IN BHARTI LIFE INSURANCE
PRUDENTIAL: AS PART OF A STRATEGIC REPOSITIONING OF INDIA OPERATIONS HAS AGREED TO ACQUIRE A 75% STAKE IN BHARTI LIFE INSURANCE COMPANY LIMITED
PRUDENTIAL: TRANSACTION IS FOR AN INITIAL CASH CONSIDERATION OF ₹3,500 CRORE PAYABLE ON COMPLETION
PRUDENTIAL: THERE IS POTENTIAL ADDITIONAL CONSIDERATION PAYABLE OF UP TO ₹700 CRORE, DEPENDENT ON THE FULFILMENT OF CERTAIN CONDITIONS.
PRUDENTIAL: AS PART OF THE TRANSACTION, BHARTI LIFE WILL ALSO LOOK INTO SECURING STRATEGIC DISTRIBUTION AGREEMENTS WITH BHARTI AIRTEL AND 360 ONE
PRUDENTIAL: AS PART OF THE TRANSACTION, BHARTI LIFE WILL ALSO LOOK INTO SECURING STRATEGIC DISTRIBUTION AGREEMENTS WITH BHARTI AIRTEL AND 360 ONE
PRUDENTIAL: REGULATORY APPROVALS FOR THE TRANSACTION ARE EXPECTED TO REQUIRE PRUDENTIAL TO REDUCE ITS SHAREHOLDING IN ICICIPRU LIFE TO UNDER 10%
Source text: https://tinyurl.com/5n8r34wr
Further company coverage: PRU.L
(([email protected];))
May 14 (Reuters) -
INDIA'S BHARTI AIRTEL EXEC: CONTINUE TO REMAIN CONFIDENT ABOUT LONG-TERM GROWTH OPPORTUNITY IN AFRICA
BHARTI AIRTEL EXEC: FEW AREAS OF OPERATIONS WERE IMPACTED BY ONGOING GEOPOLITICAL CRISIS
BHARTI AIRTEL EXEC: DETERMINED TO ACCELERATE GROWTH IN POSTPAID
BHARTI AIRTEL EXEC: SEE COST PRESSURES IN SERVERS AND MEMORY PRICES
Further company coverage: BRTI.NS
(([email protected];))
May 14 (Reuters) -
INDIA'S BHARTI AIRTEL EXEC: CONTINUE TO REMAIN CONFIDENT ABOUT LONG-TERM GROWTH OPPORTUNITY IN AFRICA
BHARTI AIRTEL EXEC: FEW AREAS OF OPERATIONS WERE IMPACTED BY ONGOING GEOPOLITICAL CRISIS
BHARTI AIRTEL EXEC: DETERMINED TO ACCELERATE GROWTH IN POSTPAID
BHARTI AIRTEL EXEC: SEE COST PRESSURES IN SERVERS AND MEMORY PRICES
Further company coverage: BRTI.NS
(([email protected];))
May 13 (Reuters) - Bharti Airtel Ltd BRTI.NS:
Q4 CONSOL NET PROFIT 73.25 BILLION RUPEES
Q4 CONSOL REV FROM OPS 553.83 BLN RUPEES; IBES EST. 550.09 BLN RUPEES
Q4 MOBILE ARPU 257 RUPEES
DIVIDEND 24 RUPEES PER SHARE
Further company coverage: BRTI.NS
(([email protected];;))
May 13 (Reuters) - Bharti Airtel Ltd BRTI.NS:
Q4 CONSOL NET PROFIT 73.25 BILLION RUPEES
Q4 CONSOL REV FROM OPS 553.83 BLN RUPEES; IBES EST. 550.09 BLN RUPEES
Q4 MOBILE ARPU 257 RUPEES
DIVIDEND 24 RUPEES PER SHARE
Further company coverage: BRTI.NS
(([email protected];;))
Updates with fund-raising plan in paragraphs 17-18
MUMBAI, May 11 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms is gearing up to seek regulatory approvals for a Mumbai listing, in what is likely to be the biggest-ever stock offering in the country.
Here are facts and numbers on Jio Platforms, which houses the world's second-largest telecom company by users after China Mobile 600941.SS.
TELECOM BUSINESS
Reliance Jio Platforms is a unit of Ambani's oil-to-retail conglomerate Reliance Industries RELI.NS. It is most known for the telecom business - Reliance Jio Infocomm, which is the country's biggest player with more than 500 million subscribers.
Launched in 2016, the telecom business, popularly just called Jio, hit rivals such as Bharti Airtel BRTI.NS and Vodafone-Idea VODA.NS hard by offering free voice and data plans initially.
The move, in line with Ambani's typical strategy of offering ultra-low prices to lure consumers, drove up its customer base and allowed many Indians to access platforms such as YouTube and Facebook for the first time.
Jio says it currently has a roughly 60% share of India's data traffic.
In recent years, Reliance Jio Platforms has diversified beyond telecom into AI, cloud and enterprise network services, as well as app development. In 2023, Nvidia NVDA.O announced AI partnership with Reliance to develop cloud infrastructure and language models.
THE LEADERSHIP
Mukesh Ambani, Asia's richest man, is the chairman of Jio Platforms. His three children - Akash, Anant and Isha - serve on its board. Akash Ambani, his elder son, is the chairman of the company's flagship telecom unit, Reliance Jio Infocomm.
Reliance Industries holds 66.43% stake in Jio Platforms.
Kiran Thomas is the CEO of Jio Platforms.
KEY FINANCIALS, VALUATION
Reliance Jio Platforms' operating revenue in the last financial year ending March 2025 stood at $13.65 billion. But 90% of that came just from the telecom business, which the company says has grown annually by 13% since 2020-21.
Reliance Jio Platforms posted a profit after tax of $2.8 billion in the year.
In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion. Sources told Reuters in January the IPO could be worth as much as $4 billion, though final numbers will only be decided later.
MARQUEE INVESTORS
In 2020, Jio Platforms raised more than $20.5 billion from 13 global investors in exchange for a roughly 33% equity stake, at a valuation range of $57 billion to $65 billion.
Global names such as Meta Platforms META.O, Alphabet GOOGL.O and KKR invested in the firm, as Ambani sought to turn Jio Platforms into the centerpiece of his technology ambitions.
Other investors include General Atlantic, Silver Lake and the Abu Dhabi Investment Authority. Meta owns a 9.9% stake in the company, followed by Google's 7.7% stake.
THE IPO JOURNEY
The filing, which had been targeted for as early as March, has been pushed back as IPO activity slowed following the outbreak of the conflict in West Asia, with investors losing their appetite for new listings.
The IPO, previously expected to be a pure offer-for-sale where foreign investors would have sold some of their holdings, is now being planned as a fundraising, aiming to issue shares worth 2.5% of the company's size.
The company's IPO has been long delayed. In 2019, Ambani said Jio would "move towards" a listing within five years, but later the plans were delayed in 2025.
The company has hired 17 banks to manage its offering.
Operating Revenues - Jio Platforms and Jio's Telecom Business ($ billion) https://reut.rs/4lO0OXt
Reliance Jio Platforms Shareholding https://reut.rs/47c0c7W
Ambani's Reliance Jio hires 17 banks for IPO, will raise no new funds, sources say https://www.reuters.com/world/india/ambanis-reliance-jio-hires-banks-ipo-will-raise-no-new-funds-sources-say-2026-03-18/
(Reporting by Vibhuti Sharma and Aditya Kalra; Editing by Arun Koyyur and Sonali Paul)
(([email protected];))
Updates with fund-raising plan in paragraphs 17-18
MUMBAI, May 11 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms is gearing up to seek regulatory approvals for a Mumbai listing, in what is likely to be the biggest-ever stock offering in the country.
Here are facts and numbers on Jio Platforms, which houses the world's second-largest telecom company by users after China Mobile 600941.SS.
TELECOM BUSINESS
Reliance Jio Platforms is a unit of Ambani's oil-to-retail conglomerate Reliance Industries RELI.NS. It is most known for the telecom business - Reliance Jio Infocomm, which is the country's biggest player with more than 500 million subscribers.
Launched in 2016, the telecom business, popularly just called Jio, hit rivals such as Bharti Airtel BRTI.NS and Vodafone-Idea VODA.NS hard by offering free voice and data plans initially.
The move, in line with Ambani's typical strategy of offering ultra-low prices to lure consumers, drove up its customer base and allowed many Indians to access platforms such as YouTube and Facebook for the first time.
Jio says it currently has a roughly 60% share of India's data traffic.
In recent years, Reliance Jio Platforms has diversified beyond telecom into AI, cloud and enterprise network services, as well as app development. In 2023, Nvidia NVDA.O announced AI partnership with Reliance to develop cloud infrastructure and language models.
THE LEADERSHIP
Mukesh Ambani, Asia's richest man, is the chairman of Jio Platforms. His three children - Akash, Anant and Isha - serve on its board. Akash Ambani, his elder son, is the chairman of the company's flagship telecom unit, Reliance Jio Infocomm.
Reliance Industries holds 66.43% stake in Jio Platforms.
Kiran Thomas is the CEO of Jio Platforms.
KEY FINANCIALS, VALUATION
Reliance Jio Platforms' operating revenue in the last financial year ending March 2025 stood at $13.65 billion. But 90% of that came just from the telecom business, which the company says has grown annually by 13% since 2020-21.
Reliance Jio Platforms posted a profit after tax of $2.8 billion in the year.
In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion. Sources told Reuters in January the IPO could be worth as much as $4 billion, though final numbers will only be decided later.
MARQUEE INVESTORS
In 2020, Jio Platforms raised more than $20.5 billion from 13 global investors in exchange for a roughly 33% equity stake, at a valuation range of $57 billion to $65 billion.
Global names such as Meta Platforms META.O, Alphabet GOOGL.O and KKR invested in the firm, as Ambani sought to turn Jio Platforms into the centerpiece of his technology ambitions.
Other investors include General Atlantic, Silver Lake and the Abu Dhabi Investment Authority. Meta owns a 9.9% stake in the company, followed by Google's 7.7% stake.
THE IPO JOURNEY
The filing, which had been targeted for as early as March, has been pushed back as IPO activity slowed following the outbreak of the conflict in West Asia, with investors losing their appetite for new listings.
The IPO, previously expected to be a pure offer-for-sale where foreign investors would have sold some of their holdings, is now being planned as a fundraising, aiming to issue shares worth 2.5% of the company's size.
The company's IPO has been long delayed. In 2019, Ambani said Jio would "move towards" a listing within five years, but later the plans were delayed in 2025.
The company has hired 17 banks to manage its offering.
Operating Revenues - Jio Platforms and Jio's Telecom Business ($ billion) https://reut.rs/4lO0OXt
Reliance Jio Platforms Shareholding https://reut.rs/47c0c7W
Ambani's Reliance Jio hires 17 banks for IPO, will raise no new funds, sources say https://www.reuters.com/world/india/ambanis-reliance-jio-hires-banks-ipo-will-raise-no-new-funds-sources-say-2026-03-18/
(Reporting by Vibhuti Sharma and Aditya Kalra; Editing by Arun Koyyur and Sonali Paul)
(([email protected];))
- Airtel Africa reported FY 2026 profit after tax of USD 813 million, up more than doubled from prior year, as operating profit climbed 45.1% to USD 2.12 billion.
- Revenue rose 29.5% to USD 6.42 billion, while basic EPS increased to 18.6 cents from 6.0 cents.
- Underlying EBITDA increased 37.2% to USD 3.16 billion, with underlying EBITDA margin widening 2.8 percentage points to 49.3%.
- Capex rose 31.9% to USD 884 million; customer base grew 10.5% to 183.5 million.
- Management said Airtel Money IPO timing was affected by market conditions, with intent to list in second half of 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Airtel Africa plc published the original content used to generate this news brief on May 08, 2026, and is solely responsible for the information contained therein.
- Airtel Africa reported FY 2026 profit after tax of USD 813 million, up more than doubled from prior year, as operating profit climbed 45.1% to USD 2.12 billion.
- Revenue rose 29.5% to USD 6.42 billion, while basic EPS increased to 18.6 cents from 6.0 cents.
- Underlying EBITDA increased 37.2% to USD 3.16 billion, with underlying EBITDA margin widening 2.8 percentage points to 49.3%.
- Capex rose 31.9% to USD 884 million; customer base grew 10.5% to 183.5 million.
- Management said Airtel Money IPO timing was affected by market conditions, with intent to list in second half of 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Airtel Africa plc published the original content used to generate this news brief on May 08, 2026, and is solely responsible for the information contained therein.
Firms are setting up treasury operations in India's GIFT City
GIFT City allows access to cheaper funding
GIFT City allows lower taxes on remitting dividends, excess cash
By Jayshree P Upadhyay and Jaspreet Kalra
MUMBAI, May 5 (Reuters) - Gautam Adani's eponymous firm, telecom operator Bharti Airtel BRTI.NS, U.S.-based Genpact and autoparts giant ZF Friedrichshafen are among the companies setting up treasury operations in India's tax-neutral finance zone, according to three sources.
They are set to join ArcelorMittal MT.LU, the world's second-largest steelmaker, which has secured regulatory licenses to set up two treasury centres, according to public filings.
The Gujarat International Finance Tec-City, known as GIFT City, is being promoted by the Modi government as a financial centre to rival Singapore and Dubai. In February, the government extended the tax holiday for firms operating there to 20 years and regulations have also been eased.
Seventeen corporate treasuries are likely to begin operations in GIFT City over the next three months, two of the three sources said, declining to be named as they are not authorised to speak to the media.
Corporate treasury operations have traditionally been housed in places like Singapore and the Netherlands. Global treasury centres are hubs where multinational firms manage cash, funding, liquidity, foreign exchange and financial risks.
Access to cheaper funding, lower taxes on remitting dividends and excess cash to overseas units, along with being able to hold assets in dollars as the rupee weakens, are prompting firms to set up treasury centres in GIFT City, the three sources said. By onshoring this activity to GIFT City, India hopes to retain control and oversight of global financial flows associated with its companies.
"Treasury centres at GIFT City are allowing firms to pool cash and borrow at a group level with greater flexibility and improving access to funds generated by their Indian businesses," said Suresh Swamy, a senior partner at PricewaterhouseCoopers.
Responding to a Reuters query, a spokesperson for Germany-based ZF Friedrichshafen said in an email it is exploring a GIFT City set-up and has yet to apply for a license.
Email queries to the other companies mentioned in this article did not yield any responses.
The names of firms planning to set up operations in GIFT City have not been previously reported.
Dipesh Shah, an executive director at the International Financial Services Centre Authority, a GIFT City regulator, said "the rise of treasury centres at GIFT marks a structural shift in how India-linked corporates manage global capital." He declined to comment on individual companies setting up treasury operations at the tax hub.
REGULATORY PUSH
Activity has picked up sharply since January, with seven companies securing regulatory licences and another 17 at different stages of approval, sources said.
Much of the recent surge is attributable to regulatory changes from April 2025, according to two of the sources.
"The interest from foreign multinational companies has been beyond our expectations," said a senior regulatory official at GIFT City who requested anonymity as they are not authorised to talk to the media.
A key change that was made allows banks to pay interest on current account balances - a practice not allowed by the Reserve Bank of India for onshore lenders, the sources said. Just one foreign bank has started this so far, two of the three sources said.
ArcelorMittal - an early entrant - plans to undertake cash pooling activities for its India entities via GIFT City, according to the sources, similar to what it does via its treasury centre in Paris through an entity called ArcelorMittal Treasury.
(Reporting by Jayshree P Upadhyay and Jaspreet Kalra in Mumbai; Editing by Ira Dugal in Mumbai and Thomas Derpinghaus)
(([email protected]; 9920092491; Reuters Messaging: Twitter: @jaysh88))
Firms are setting up treasury operations in India's GIFT City
GIFT City allows access to cheaper funding
GIFT City allows lower taxes on remitting dividends, excess cash
By Jayshree P Upadhyay and Jaspreet Kalra
MUMBAI, May 5 (Reuters) - Gautam Adani's eponymous firm, telecom operator Bharti Airtel BRTI.NS, U.S.-based Genpact and autoparts giant ZF Friedrichshafen are among the companies setting up treasury operations in India's tax-neutral finance zone, according to three sources.
They are set to join ArcelorMittal MT.LU, the world's second-largest steelmaker, which has secured regulatory licenses to set up two treasury centres, according to public filings.
The Gujarat International Finance Tec-City, known as GIFT City, is being promoted by the Modi government as a financial centre to rival Singapore and Dubai. In February, the government extended the tax holiday for firms operating there to 20 years and regulations have also been eased.
Seventeen corporate treasuries are likely to begin operations in GIFT City over the next three months, two of the three sources said, declining to be named as they are not authorised to speak to the media.
Corporate treasury operations have traditionally been housed in places like Singapore and the Netherlands. Global treasury centres are hubs where multinational firms manage cash, funding, liquidity, foreign exchange and financial risks.
Access to cheaper funding, lower taxes on remitting dividends and excess cash to overseas units, along with being able to hold assets in dollars as the rupee weakens, are prompting firms to set up treasury centres in GIFT City, the three sources said. By onshoring this activity to GIFT City, India hopes to retain control and oversight of global financial flows associated with its companies.
"Treasury centres at GIFT City are allowing firms to pool cash and borrow at a group level with greater flexibility and improving access to funds generated by their Indian businesses," said Suresh Swamy, a senior partner at PricewaterhouseCoopers.
Responding to a Reuters query, a spokesperson for Germany-based ZF Friedrichshafen said in an email it is exploring a GIFT City set-up and has yet to apply for a license.
Email queries to the other companies mentioned in this article did not yield any responses.
The names of firms planning to set up operations in GIFT City have not been previously reported.
Dipesh Shah, an executive director at the International Financial Services Centre Authority, a GIFT City regulator, said "the rise of treasury centres at GIFT marks a structural shift in how India-linked corporates manage global capital." He declined to comment on individual companies setting up treasury operations at the tax hub.
REGULATORY PUSH
Activity has picked up sharply since January, with seven companies securing regulatory licences and another 17 at different stages of approval, sources said.
Much of the recent surge is attributable to regulatory changes from April 2025, according to two of the sources.
"The interest from foreign multinational companies has been beyond our expectations," said a senior regulatory official at GIFT City who requested anonymity as they are not authorised to talk to the media.
A key change that was made allows banks to pay interest on current account balances - a practice not allowed by the Reserve Bank of India for onshore lenders, the sources said. Just one foreign bank has started this so far, two of the three sources said.
ArcelorMittal - an early entrant - plans to undertake cash pooling activities for its India entities via GIFT City, according to the sources, similar to what it does via its treasury centre in Paris through an entity called ArcelorMittal Treasury.
(Reporting by Jayshree P Upadhyay and Jaspreet Kalra in Mumbai; Editing by Ira Dugal in Mumbai and Thomas Derpinghaus)
(([email protected]; 9920092491; Reuters Messaging: Twitter: @jaysh88))
- Airtel Africa partnered with SpaceX to test Starlink Mobile data, messaging services in Kenya.
- Trials enabled 4G smartphones to connect via Starlink satellites in areas with no terrestrial mobile signal.
- Test users supported low-data apps including WhatsApp calling, messaging, maps, with successful MyAirtel financial transactions.
- Companies plan to use Kenya results to expand satellite-to-mobile service across Airtel Africa’s 14 markets, subject to country-level regulatory approvals.
- Next phase targets voice services, broader data capability via Starlink Mobile V2 to deliver broadband directly to mobile phones.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Airtel Africa plc published the original content used to generate this news brief on March 31, 2026, and is solely responsible for the information contained therein.
- Airtel Africa partnered with SpaceX to test Starlink Mobile data, messaging services in Kenya.
- Trials enabled 4G smartphones to connect via Starlink satellites in areas with no terrestrial mobile signal.
- Test users supported low-data apps including WhatsApp calling, messaging, maps, with successful MyAirtel financial transactions.
- Companies plan to use Kenya results to expand satellite-to-mobile service across Airtel Africa’s 14 markets, subject to country-level regulatory approvals.
- Next phase targets voice services, broader data capability via Starlink Mobile V2 to deliver broadband directly to mobile phones.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Airtel Africa plc published the original content used to generate this news brief on March 31, 2026, and is solely responsible for the information contained therein.
Adds details throughout
March 30 (Reuters) - India's Bharti Airtel-owned BRTI.NS Nxtra Data will raise $1 billion from Alpha Wave Global, Carlyle Global, Anchorage Capital, as well as its parent, in a deal that values the data center firm at about $3.1 billion.
The deal marks the latest in a string of investments that Indian conglomerates Reliance RELI.NS and Adani ADEL.NS have announced in recent months in data infrastructure as they position the country as an emerging hub for AI development.
India has played only a limited role in the global AI boom so far because it lacks large-scale chip manufacturing, making data centers its most viable entry point into the fast-growing infrastructure market.
Private equity firm Alpha Wave will lead the fundraise with a $435 million investment, followed by Bharti Airtel's $290 million commitment. U.S. investment firm Carlyle Global CG.O, an existing investor, will pump in $240 million, while Anchorage Capital will invest $35 million.
Bharti Airtel, India's second-largest mobile carrier by users, said it will retain its controlling stake in Nxtra.
Nxtra will deploy the funds to scale its infrastructure and expand the services it offers.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Tasim Zahid)
(([email protected]; Mobile: +91 9591011727;))
Adds details throughout
March 30 (Reuters) - India's Bharti Airtel-owned BRTI.NS Nxtra Data will raise $1 billion from Alpha Wave Global, Carlyle Global, Anchorage Capital, as well as its parent, in a deal that values the data center firm at about $3.1 billion.
The deal marks the latest in a string of investments that Indian conglomerates Reliance RELI.NS and Adani ADEL.NS have announced in recent months in data infrastructure as they position the country as an emerging hub for AI development.
India has played only a limited role in the global AI boom so far because it lacks large-scale chip manufacturing, making data centers its most viable entry point into the fast-growing infrastructure market.
Private equity firm Alpha Wave will lead the fundraise with a $435 million investment, followed by Bharti Airtel's $290 million commitment. U.S. investment firm Carlyle Global CG.O, an existing investor, will pump in $240 million, while Anchorage Capital will invest $35 million.
Bharti Airtel, India's second-largest mobile carrier by users, said it will retain its controlling stake in Nxtra.
Nxtra will deploy the funds to scale its infrastructure and expand the services it offers.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Tasim Zahid)
(([email protected]; Mobile: +91 9591011727;))
MUMBAI, March 23 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms is gearing up to file papers seeking regulatory approvals for a Mumbai listing, in what is likely to be the biggest-ever stock offering in the country.
Here are facts and numbers on Jio Platforms, which houses the world's second-largest telecom company by users after China Mobile 600941.SS.
TELECOM BUSINESS
Reliance Jio Platforms is a unit of Ambani's oil-to-retail conglomerate Reliance Industries RELI.NS. It is most known for the telecom business - Reliance Jio Infocomm, which is the country's biggest player with more than 500 million subscribers.
Launched in 2016, the telecom business, popularly just called Jio, hit rivals such as Bharti Airtel BRTI.NS and Vodafone-Idea VODA.NS hard by offering free voice and data plans initially.
The move, in line with Ambani's typical strategy of offering cut-throat prices to lure consumers, drove up its customer base and allowed many Indians to access platforms such as YouTube and Facebook for the first time.
Jio says it currently has a roughly 60% share of India's data traffic.
In recent years, Reliance Jio Platforms has diversified beyond telecom into AI, cloud and enterprise network services, as well as app development. In 2023, Nvidia NVDA.O announced AI partnership with Reliance to develop cloud infrastructure and language models.
THE LEADERSHIP
Mukesh Ambani, Asia's richest man, is the chairman of Jio Platforms. His three children - Akash, Anant and Isha - serve on its board. Akash Ambani, his elder son, is the chairman of the company's flagship telecom unit, Reliance Jio Infocomm.
Reliance Industries holds 66.43% stake in Jio Platforms.
Kiran Thomas is the CEO of Jio Platforms.
KEY FINANCIALS, VALUATION
Reliance Jio Platforms' operating revenue in the last financial year ending March 2025 stood at $13.65 billion. But 90% of that came just from the telecom business, which the company says has grown annually by 13% since 2020-21.
Reliance Jio Platforms posted a profit after tax of $2.8 billion in the year.
In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion. Sources told Reuters in January the IPO could be worth as much as $4 billion, though final numbers will only be decided later.
MARQUEE INVESTORS
In 2020, Jio Platforms raised more than $20.5 billion from 13 global investors in exchange for a roughly 33% equity stake, at a valuation range of $57 billion to $65 billion.
Global names such as Meta Platforms META.O, Alphabet GOOGL.O and KKR invested in the firm, as Ambani sought to turn Jio Platforms into the centerpiece of his technology ambitions.
Other investors include General Atlantic, Silver Lake and the Abu Dhabi Investment Authority. Meta owns a 9.9% stake in the company, followed by Google's 7.7% stake.
THE IPO JOURNEY
The company's IPO has been long delayed. In 2019, Ambani said Jio would "move towards" a listing within five years, but later the plans were delayed in 2025.
The company has hired 17 banks to manage its offering, which will see the company raise no new funds from the public and only allow exits for some shareholders.
Operating Revenues - Jio Platforms and Jio's Telecom Business ($ billion) https://reut.rs/4lO0OXt
Reliance Jio Platforms Shareholding https://reut.rs/47c0c7W
Ambani's Reliance Jio hires 17 banks for IPO, will raise no new funds, sources say https://www.reuters.com/world/india/ambanis-reliance-jio-hires-banks-ipo-will-raise-no-new-funds-sources-say-2026-03-18/
(Reporting by Vibhuti Sharma and Aditya Kalra; Editing by Arun Koyyur)
(([email protected];))
MUMBAI, March 23 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms is gearing up to file papers seeking regulatory approvals for a Mumbai listing, in what is likely to be the biggest-ever stock offering in the country.
Here are facts and numbers on Jio Platforms, which houses the world's second-largest telecom company by users after China Mobile 600941.SS.
TELECOM BUSINESS
Reliance Jio Platforms is a unit of Ambani's oil-to-retail conglomerate Reliance Industries RELI.NS. It is most known for the telecom business - Reliance Jio Infocomm, which is the country's biggest player with more than 500 million subscribers.
Launched in 2016, the telecom business, popularly just called Jio, hit rivals such as Bharti Airtel BRTI.NS and Vodafone-Idea VODA.NS hard by offering free voice and data plans initially.
The move, in line with Ambani's typical strategy of offering cut-throat prices to lure consumers, drove up its customer base and allowed many Indians to access platforms such as YouTube and Facebook for the first time.
Jio says it currently has a roughly 60% share of India's data traffic.
In recent years, Reliance Jio Platforms has diversified beyond telecom into AI, cloud and enterprise network services, as well as app development. In 2023, Nvidia NVDA.O announced AI partnership with Reliance to develop cloud infrastructure and language models.
THE LEADERSHIP
Mukesh Ambani, Asia's richest man, is the chairman of Jio Platforms. His three children - Akash, Anant and Isha - serve on its board. Akash Ambani, his elder son, is the chairman of the company's flagship telecom unit, Reliance Jio Infocomm.
Reliance Industries holds 66.43% stake in Jio Platforms.
Kiran Thomas is the CEO of Jio Platforms.
KEY FINANCIALS, VALUATION
Reliance Jio Platforms' operating revenue in the last financial year ending March 2025 stood at $13.65 billion. But 90% of that came just from the telecom business, which the company says has grown annually by 13% since 2020-21.
Reliance Jio Platforms posted a profit after tax of $2.8 billion in the year.
In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion. Sources told Reuters in January the IPO could be worth as much as $4 billion, though final numbers will only be decided later.
MARQUEE INVESTORS
In 2020, Jio Platforms raised more than $20.5 billion from 13 global investors in exchange for a roughly 33% equity stake, at a valuation range of $57 billion to $65 billion.
Global names such as Meta Platforms META.O, Alphabet GOOGL.O and KKR invested in the firm, as Ambani sought to turn Jio Platforms into the centerpiece of his technology ambitions.
Other investors include General Atlantic, Silver Lake and the Abu Dhabi Investment Authority. Meta owns a 9.9% stake in the company, followed by Google's 7.7% stake.
THE IPO JOURNEY
The company's IPO has been long delayed. In 2019, Ambani said Jio would "move towards" a listing within five years, but later the plans were delayed in 2025.
The company has hired 17 banks to manage its offering, which will see the company raise no new funds from the public and only allow exits for some shareholders.
Operating Revenues - Jio Platforms and Jio's Telecom Business ($ billion) https://reut.rs/4lO0OXt
Reliance Jio Platforms Shareholding https://reut.rs/47c0c7W
Ambani's Reliance Jio hires 17 banks for IPO, will raise no new funds, sources say https://www.reuters.com/world/india/ambanis-reliance-jio-hires-banks-ipo-will-raise-no-new-funds-sources-say-2026-03-18/
(Reporting by Vibhuti Sharma and Aditya Kalra; Editing by Arun Koyyur)
(([email protected];))
March 20 (Reuters) - Saraswati Commercial (India) Ltd SARC.BO:
SARASWATI COMMERCIAL (INDIA) LTD - BHARTI AIRTEL CONVERTS PARTLY PAID-UP EQUITY SHARES INTO FULLY PAID-UP EQUITY SHARES
SARASWATI COMMERCIAL (INDIA) LTD - CONVERTS 587,712 BHARTI AIRTEL SHARES INTO FULLY PAID-UP SHARES
Source text: ID:nBSElFTkY
Further company coverage: SARC.BO
(([email protected];;))
March 20 (Reuters) - Saraswati Commercial (India) Ltd SARC.BO:
SARASWATI COMMERCIAL (INDIA) LTD - BHARTI AIRTEL CONVERTS PARTLY PAID-UP EQUITY SHARES INTO FULLY PAID-UP EQUITY SHARES
SARASWATI COMMERCIAL (INDIA) LTD - CONVERTS 587,712 BHARTI AIRTEL SHARES INTO FULLY PAID-UP SHARES
Source text: ID:nBSElFTkY
Further company coverage: SARC.BO
(([email protected];;))
** Bharti Airtel BRTI.NS invests $2.2 billion in its financial arm over the next few years to step up its push into digital lending
** CITI ("Buy," PT: 2,380 rupees) says the capital infusion is a natural adjacency to develop BRTI's next growth engine and diversify its portfolio
** Brokerage adds that it does not expect the foray to materially weigh on BRTI's cash flows, considering its upcoming rights issue payment and free cash flow generation
** Morgan Stanley ("Overweight," PT: 2,450 rupees) says BRTI has seen "reasonable success" in operating its loan service platform over the last 2 years, and the new capital infusion is a step to diversify further into financial services
** Adds, while current investments will increase overall capex intensity, it will also build additional revenue streams with potential value creation
** BRTI down 3.2% on the day
** Avg rating of 29 analysts on BRTI at "Buy"; median PT is 2,375 rupees - data compiled by LSEG
** YTD, stock down 8.2% vs Nifty 50's .NSEI 2.4% drop
(Reporting by Kashish Tandon in Bengaluru)
** Bharti Airtel BRTI.NS invests $2.2 billion in its financial arm over the next few years to step up its push into digital lending
** CITI ("Buy," PT: 2,380 rupees) says the capital infusion is a natural adjacency to develop BRTI's next growth engine and diversify its portfolio
** Brokerage adds that it does not expect the foray to materially weigh on BRTI's cash flows, considering its upcoming rights issue payment and free cash flow generation
** Morgan Stanley ("Overweight," PT: 2,450 rupees) says BRTI has seen "reasonable success" in operating its loan service platform over the last 2 years, and the new capital infusion is a step to diversify further into financial services
** Adds, while current investments will increase overall capex intensity, it will also build additional revenue streams with potential value creation
** BRTI down 3.2% on the day
** Avg rating of 29 analysts on BRTI at "Buy"; median PT is 2,375 rupees - data compiled by LSEG
** YTD, stock down 8.2% vs Nifty 50's .NSEI 2.4% drop
(Reporting by Kashish Tandon in Bengaluru)
Feb 23 (Reuters) - Bharti Airtel Ltd BRTI.NS:
BHARTI AIRTEL - ANNOUNCES MAJOR PLANS FOR AIRTEL MONEY NBFC
BHARTI AIRTEL - MONEY NBFC TO BE CAPITALIZED WITH 200 BILLION RUPEES
BHARTI AIRTEL- AIRTEL WILL CONTRIBUTE 70% WITH PROMOTER GROUP VIA BHAR ENTERPRISES, BRINGING IN BALANCE 30%
Source text: ID:nBSE2T98zx
Further company coverage: BRTI.NS
(([email protected];))
Feb 23 (Reuters) - Bharti Airtel Ltd BRTI.NS:
BHARTI AIRTEL - ANNOUNCES MAJOR PLANS FOR AIRTEL MONEY NBFC
BHARTI AIRTEL - MONEY NBFC TO BE CAPITALIZED WITH 200 BILLION RUPEES
BHARTI AIRTEL- AIRTEL WILL CONTRIBUTE 70% WITH PROMOTER GROUP VIA BHAR ENTERPRISES, BRINGING IN BALANCE 30%
Source text: ID:nBSE2T98zx
Further company coverage: BRTI.NS
(([email protected];))
Feb 20 (Reuters) - Bharti Airtel Ltd BRTI.NS:
ZSCALER AND BHARTI AIRTEL LAUNCH AI & CYBER THREAT RESEARCH CENTER
Source text: ID:nNSESprNr
Further company coverage: BRTI.NS
(([email protected];))
Feb 20 (Reuters) - Bharti Airtel Ltd BRTI.NS:
ZSCALER AND BHARTI AIRTEL LAUNCH AI & CYBER THREAT RESEARCH CENTER
Source text: ID:nNSESprNr
Further company coverage: BRTI.NS
(([email protected];))
Feb 17 (Reuters) - Bharti Airtel Ltd BRTI.NS:
UNIT RECEIVES CERTIFICATE AS TYPE II NON-DEPOSIT NBFC FROM RBI
Source text: ID:nBSE5gGdbD
Further company coverage: BRTI.NS
(([email protected];;))
Feb 17 (Reuters) - Bharti Airtel Ltd BRTI.NS:
UNIT RECEIVES CERTIFICATE AS TYPE II NON-DEPOSIT NBFC FROM RBI
Source text: ID:nBSE5gGdbD
Further company coverage: BRTI.NS
(([email protected];;))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, Feb 16 (Reuters Breakingviews) - Mukesh Ambani's endless quest for scale in India may be the top challenge his advisors led by Kotak Mahindra Bank and Morgan Stanley face in trying to secure the tycoon's telecom operator a sought-after $170 billion valuation in its upcoming blockbuster initial public offering.
Demand for Jio Platforms stock will almost certainly be strong, not least because the company will end up as a constituent of the country's benchmark Nifty 50 Index .NSEI. Whether it deserves to be valued more richly than its top rival is less clear, however.
Size wise, Jio clearly trumps its top rival. Its 515 million total subscribers are more numerous than Bharti Airtel's BRTI.NS 466 million customers in India and its 25 million base of users for home broadband, which it's still rolling out, is nearly twice as large. Beyond that, things look less clear cut.
Ambani's firm is growing earnings before interest, tax, depreciation and amortisation at 17% year-on-year, impressive but slower than the 27% EBITDA increase at Airtel's India business. Profits at the duo are robust only because the tycoon's price wars tipped the sector into a quasi-duopoly over the past decade.
Jio's average revenue per user of 214 rupees ($2.36) a month also lags Airtel's 259 rupees. That's partly explained by the fact that Airtel calculates the metric only for subscribers who have made a payment in the last 30 days, while Jio includes its entire subscriber base. It underscores the company's focus on volumes.
That makes the two halves of the duopoly look more evenly matched. Yet a $170 billion valuation would equate to 42 times Jio's earnings for the year ending March 2027 according to estimates compiled by Visible Alpha. Airtel trades at around 30 times.
What's more, Ambani's next target is to dominate artificial intelligence services and reduce inferencing costs in India to the lowest in the world to make "AI available everywhere for everyone". That raises the prospects of more price wars.
To be sure, Reliance Industries RELI.NS executives are talking up a proprietary in-house technology stack. This, they say, cuts the company's reliance on foreign equipment, is drawing interest from global operators and will give Jio an edge in scaling up growth drivers; users pay more for broadband than mobile, and its enterprise solutions from cloud services to internet of things are at an early stage of adoption.
If Jio can realise these advantages, it may be able to pursue scale and deliver superior shareholder value. For now, though, with the company generating 89% of its operating revenue from plain old telecom services, bankers will be asking prospective investors to take a leap of faith.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
Jio Platforms, the telecom unit of Reliance Industries, is preparing for a Mumbai initial public offering.
Jio's reported average revenue per unit lags Airtel https://www.reuters.com/graphics/BRV-BRV/zgvoyqzmgvd/chart.png
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, Feb 16 (Reuters Breakingviews) - Mukesh Ambani's endless quest for scale in India may be the top challenge his advisors led by Kotak Mahindra Bank and Morgan Stanley face in trying to secure the tycoon's telecom operator a sought-after $170 billion valuation in its upcoming blockbuster initial public offering.
Demand for Jio Platforms stock will almost certainly be strong, not least because the company will end up as a constituent of the country's benchmark Nifty 50 Index .NSEI. Whether it deserves to be valued more richly than its top rival is less clear, however.
Size wise, Jio clearly trumps its top rival. Its 515 million total subscribers are more numerous than Bharti Airtel's BRTI.NS 466 million customers in India and its 25 million base of users for home broadband, which it's still rolling out, is nearly twice as large. Beyond that, things look less clear cut.
Ambani's firm is growing earnings before interest, tax, depreciation and amortisation at 17% year-on-year, impressive but slower than the 27% EBITDA increase at Airtel's India business. Profits at the duo are robust only because the tycoon's price wars tipped the sector into a quasi-duopoly over the past decade.
Jio's average revenue per user of 214 rupees ($2.36) a month also lags Airtel's 259 rupees. That's partly explained by the fact that Airtel calculates the metric only for subscribers who have made a payment in the last 30 days, while Jio includes its entire subscriber base. It underscores the company's focus on volumes.
That makes the two halves of the duopoly look more evenly matched. Yet a $170 billion valuation would equate to 42 times Jio's earnings for the year ending March 2027 according to estimates compiled by Visible Alpha. Airtel trades at around 30 times.
What's more, Ambani's next target is to dominate artificial intelligence services and reduce inferencing costs in India to the lowest in the world to make "AI available everywhere for everyone". That raises the prospects of more price wars.
To be sure, Reliance Industries RELI.NS executives are talking up a proprietary in-house technology stack. This, they say, cuts the company's reliance on foreign equipment, is drawing interest from global operators and will give Jio an edge in scaling up growth drivers; users pay more for broadband than mobile, and its enterprise solutions from cloud services to internet of things are at an early stage of adoption.
If Jio can realise these advantages, it may be able to pursue scale and deliver superior shareholder value. For now, though, with the company generating 89% of its operating revenue from plain old telecom services, bankers will be asking prospective investors to take a leap of faith.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
Jio Platforms, the telecom unit of Reliance Industries, is preparing for a Mumbai initial public offering.
Jio's reported average revenue per unit lags Airtel https://www.reuters.com/graphics/BRV-BRV/zgvoyqzmgvd/chart.png
(Editing by Una Galani; Production by Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
Updates with more detail on results
Feb 12 (Reuters) - Singapore Telecommunications STEL.SI reported a 9.5% rise in its third-quarter underlying net profit on Thursday, driven by strong contributions from India's Bharti Airtel BRTI.NS and Thailand's Advanced Info Service (AIS) ADVANC.BK.
SingTel reported an underlying net profit of S$744 million ($589.77 million) for the three-month period ended December 31, compared with S$680 million a year earlier.
Contributions from regional associates' post-tax profits rose more than 15% to S$529 million, led by Airtel and AIS.
SingTel also booked a net exceptional gain of S$1.15 billion from selling a 0.8% stake in Airtel as part of an asset‑restructuring plan.
That boosted its net profit on a statutory basis by 44% to S$1.89 billion.
SingTel-owned Optus, Australia's no. 2 telecom firm, reported a 5% rise in operating earnings for the quarter. That, along with robust growth in its information technology services division, NCS, helped offset weaker performance by its domestic business.
($1 = 1.2615 Singapore dollars)
(Reporting by Kumar Tanishk in Bengaluru; Editing by Subhranshu Sahu)
(([email protected]; X: @thatstanishk;))
Updates with more detail on results
Feb 12 (Reuters) - Singapore Telecommunications STEL.SI reported a 9.5% rise in its third-quarter underlying net profit on Thursday, driven by strong contributions from India's Bharti Airtel BRTI.NS and Thailand's Advanced Info Service (AIS) ADVANC.BK.
SingTel reported an underlying net profit of S$744 million ($589.77 million) for the three-month period ended December 31, compared with S$680 million a year earlier.
Contributions from regional associates' post-tax profits rose more than 15% to S$529 million, led by Airtel and AIS.
SingTel also booked a net exceptional gain of S$1.15 billion from selling a 0.8% stake in Airtel as part of an asset‑restructuring plan.
That boosted its net profit on a statutory basis by 44% to S$1.89 billion.
SingTel-owned Optus, Australia's no. 2 telecom firm, reported a 5% rise in operating earnings for the quarter. That, along with robust growth in its information technology services division, NCS, helped offset weaker performance by its domestic business.
($1 = 1.2615 Singapore dollars)
(Reporting by Kumar Tanishk in Bengaluru; Editing by Subhranshu Sahu)
(([email protected]; X: @thatstanishk;))
Feb 12 (Reuters) - Singapore Telecommunications STEL.SI reported a 9.5% rise in its third-quarter underlying net profit on Thursday, driven by strong contributions from regional associates, India's Bharti Airtel BRTI.NS and Thailand's Advanced Info Service ADVANC.BK.
SingTel reported an underlying net profit of S$744 million ($589.77 million) for the three months ended December 31, compared with S$680 million a year earlier.
($1 = 1.2615 Singapore dollars)
(Reporting by Kumar Tanishk in Bengaluru; Editing by Subhranshu Sahu)
(([email protected]; X: @thatstanishk;))
Feb 12 (Reuters) - Singapore Telecommunications STEL.SI reported a 9.5% rise in its third-quarter underlying net profit on Thursday, driven by strong contributions from regional associates, India's Bharti Airtel BRTI.NS and Thailand's Advanced Info Service ADVANC.BK.
SingTel reported an underlying net profit of S$744 million ($589.77 million) for the three months ended December 31, compared with S$680 million a year earlier.
($1 = 1.2615 Singapore dollars)
(Reporting by Kumar Tanishk in Bengaluru; Editing by Subhranshu Sahu)
(([email protected]; X: @thatstanishk;))
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Popular questions
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What does Bharti Airtel do?
Bharti Airtel is India’s largest integrated communications solutions provider and the second largest mobile operator in Africa. Airtel’s retail portfolio includes high-speed 4G/5G mobile, Wi-Fi (FTTH+ FWA) that promises speeds up to 1 Gbps with convergence across linear and on-demand entertainment, video streaming services, digital payments and financial services. For enterprise customers, Airtel offers a gamut of solutions that includes secure connectivity, cloud and data centre services, cyber security, IoT, and cloud based communication. Within its diversified portfolio, Airtel offers passive infrastructure services through its subsidiary Indus Tower Ltd.
Who are the competitors of Bharti Airtel?
Bharti Airtel major competitors are Vodafone Idea, Reliance Industries, Sterlite Tech., Railtel Corp. India, Tata Teleservice(Mah, Advait Energy Trans.. Market Cap of Bharti Airtel is ₹11,79,485 Crs. While the median market cap of its peers are ₹18,313 Crs.
Is Bharti Airtel financially stable compared to its competitors?
Bharti Airtel seems to be less financially stable compared to its competitors. Altman Z score of Bharti Airtel is 2.73 and is ranked 4 out of its 7 competitors.
Does Bharti Airtel pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Bharti Airtel latest dividend payout ratio is 27.66% and 3yr average dividend payout ratio is 38.83%
How has Bharti Airtel allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery
How strong is Bharti Airtel balance sheet?
Balance sheet of Bharti Airtel is moderately strong, But short term working capital might become an issue for this company.
Is the profitablity of Bharti Airtel improving?
The profit is oscillating. The profit of Bharti Airtel is ₹33,458 Crs for TTM, ₹33,556 Crs for Mar 2025 and ₹7,467 Crs for Mar 2024.
Is the debt of Bharti Airtel increasing or decreasing?
The net debt of Bharti Airtel is decreasing. Latest net debt of Bharti Airtel is ₹91,295 Crs as of Mar-26. This is less than Mar-25 when it was ₹1,14,921 Crs.
Is Bharti Airtel stock expensive?
Bharti Airtel is not expensive. Latest PE of Bharti Airtel is 44.18, while 3 year average PE is 73.25. Also latest EV/EBITDA of Bharti Airtel is 10.62 while 3yr average is 11.25.
Has the share price of Bharti Airtel grown faster than its competition?
Bharti Airtel has given better returns compared to its competitors. Bharti Airtel has grown at ~29.35% over the last 5yrs while peers have grown at a median rate of 17.0%
Is the promoter bullish about Bharti Airtel?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Bharti Airtel is 48.87% and last quarter promoter holding is 48.87%.
Are mutual funds buying/selling Bharti Airtel?
The mutual fund holding of Bharti Airtel is increasing. The current mutual fund holding in Bharti Airtel is 12.03% while previous quarter holding is 11.36%.