Airtel Money, the mobile payments arm of Airtel Africa, is preparing to launch a significant IPO on the London Stock Exchange, aiming for a valuation between $8 billion and $9 billion. The company intends to raise at least $800 million from investors, a substantial decrease from the previously targeted range of $1.5 billion to $2 billion. This scaled-back fundraising goal reflects investor feedback and broader market conditions.
The initial public offering paperwork is expected to be filed as early as this week, with trading anticipated to begin in October. This IPO would be a notable boost for London's market, which has seen a thinner pipeline of listings since 2022, despite the reduced target size. The company had initially planned to list in the first half of 2026 but postponed due to cost pressures and market volatility, including the US-Israeli war on Iran.
Airtel Money represents Airtel Africa's third-largest revenue segment, generating $1.4 billion in revenue in the year ended March 31, a 28% increase from the previous year. Bharti Enterprises Ltd, controlled by Sunil Mittal, holds the majority stake in Airtel Africa, which is Africa's third-largest wireless carrier. Mastercard Inc. and the Qatar Investment Authority also hold minority stakes in Airtel Money.
