Airtel Money, the mobile payments business backed by Bharti Enterprises, made its debut on the London Stock Exchange (LSE) on Friday, October 9, in the bourse's largest initial public offering (IPO) in five years. Shares of the company rose as much as 2.1% above the offer price of £1.96 apiece following the listing.
The IPO valued Airtel Mobile Commerce NV, the company's formal name, at approximately £5.3 billion, or around $7 billion. The offering raised roughly £529 million ($700 million) through the sale of 270 million existing shares by shareholders, including Qatar Investment Authority and TPG Inc.
The shares are trading under the ticker symbol “AMC”. Airtel Africa Plc said it is not selling existing Airtel Money shares in the Offer and is expected to remain a long-term strategic shareholder and to support Airtel Money's next phase of development as an independently listed business.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Conditional dealings in Airtel Money shares began on October 9, while unconditional dealings and full admission to trading are scheduled to commence on October 14.
Sunil Bharti Mittal, founder of Airtel and founder and chairman of Bharti Enterprises, welcomed the listing, describing it as a vote of confidence in the UK as an investment destination.
“This listing is a vote of confidence in the UK as an attractive global destination for investment, with a stable business and policy environment attractive for long-term investors,” Mittal said.
He also highlighted Bharti's existing investments and business interests in the UK, including its strategic stake in BT announced in 2024, its shareholding in Eutelsat alongside the UK government, and hospitality asset Gleneagles in Scotland.
“The over-subscription of the Airtel Money offering shows the appetite of the UK market for high-quality investable assets,” he added.
In 2019, Airtel Africa was listed in London to leverage the UK's established investor base of patient, strategic capital, and willingness to invest in dynamic emerging market companies.
“The same conditions made London the obvious choice for this new listing in 2026. The over-subscription of the Airtel Money offering shows the appetite of the UK market for high-quality investable assets,” Mittal said.
ALSO READ:
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
