Bharti Airtel increases controlling stake in Airtel Africa to 79%

Bharti Airtel Limited has significantly strengthened its holding in its dual-listed subsidiary, Airtel Africa Plc, pushing its ownership to approximately 79 percent.

This was revealed during an analysis of the company’s notice to the Nigerian Exchange (NGX) and the London Stock Exchange (LSE) seen by NewsDirect.

The increased stake was executed through a structured share swap with Indian Continent Investment Limited (ICIL), a prominent promoter group entity.

Under the terms of the transaction, Bharti Airtel acquired 595,204,251 ordinary shares of Airtel Africa Plc directly from ICIL, which represents an incremental 16.31 percent voting stake in the telecom giant.

In exchange, Bharti Airtel issued 146,761,335 new, fully paid-up equity shares of its own stock to ICIL on a preferential basis, valued at approximately Rs 282 billion (₹28,200 crore). Prior to this acquisition, Bharti Airtel maintained a 62.73 percent direct and indirect stake in the subsidiary.

Regulatory filings outline that the threshold for this significant shareholding change was officially crossed on June 22, 2026, with the issuer formally notified on June 24, 2026.

The restructuring was funneled through the ultimate controlling corporate chains, showing that while Bharti Enterprises (Holding) Private Limited remains the foundational entity, the direct voting weight has been concentrated.

Following the transaction, the specific chain of controlled undertakings reflects Bharti Airtel Limited directly controlling 16.35 percent of the voting rights, alongside the 62.87 percent held via Airtel Africa Mauritius Limited, solidifying the new 79 percent benchmark.

The changes come just ahead of Airtel Africa Plc’s Annual General Meeting scheduled for July 2026 in London, and align with the company’s capital allocation strategies, which include ongoing share buyback programs to maximize shareholder returns across its 14 operational markets on the continent.