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Airtel Money Targets $9 Billion Valuation in London IPO

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Airtel Money Targets $9 Billion Valuation in London IPO

Bharti Group owned Airtel Money is soon going to go for its Initial Public Offering (IPO). Airtel Money is an African unit, but it is listing in London due to strategic reasons. The company is targeting a valuation of up to $9 billion USD. Airtel Money is aiming to raise close to $800 million through a secondary offering of existing shares. This would make it London’s biggest IPO since 2021. Airtel Money has abou 53 million active users across 13 countries in Africa. The company’s revenue for the last fiscal year was $1.4 billion USD.

What is truly amazing about Airtel Money is that it is capital-light business, and is growing at 20% annually. Bharti Group had first envisioned to list Airtel Money in the first half of 2026. However, due to the geopolitical tensions in the west, the IPO was delayed. The earlier ambition of $10 billion USD valuation was also trimmed by 10-20%.

Airtel Africa, controlled by the Bharti Group, will continue to own a majority stake in Airtel Money. This IPO will certainly test the apetite of London’s stock exchanges. This would be a good change for the London’s markets.

“London has not had a $1 billion-plus IPO since 2021, so the deal would undoubtedly be a positive for the exchange,” said Samuel Kerr, an analyst at the M&A analytics platform.

“We evaluated multiple stock exchanges, including the Middle East because we’ve got a headquarters in Dubai, along with European and North American exchanges. Ultimately, shareholders felt that London was the right choice.


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