Bharti Airtel has increased its stake in Airtel Africa to approximately 79%, following a major share-swap transaction valued at around ₹28,200 crore. The company disclosed the development in a regulatory filing on Tuesday, confirming that it acquired an additional 16.31% stake from Indian Continent Investment Limited (ICIL), a promoter group entity.
With this transaction, Bharti Airtel’s holding in Airtel Africa has risen from 62.73% to nearly 79%. The deal involved the issuance of equity shares by Bharti Airtel to ICIL on a preferential basis, in exchange for the transferred stake. Importantly, the transaction was structured as a cashless share swap, enabling the company to expand its ownership without any cash outflow or additional leverage.
According to the company statement, the move strengthens Bharti Airtel’s economic interest in a high-growth international asset while maintaining financial flexibility. The acquisition also aligns with earlier indications from Bharti Enterprises Chairman Sunil Bharti Mittal, who had outlined plans to increase promoter-level participation in group companies.
Mittal has previously projected that Airtel Africa could evolve into a $10 billion revenue business in the coming years, positioning it as a key growth driver alongside the company’s India operations. The latest transaction further consolidates Bharti Airtel’s control and signals long-term confidence in the African telecom market.
