Airtel Money Sets Sights on $9B Valuation in London IPO
Airtel Money, Bharti Group's African mobile money unit, is targeting a valuation of up to $9 billion in its London IPO, aiming to raise about $800 million from existing shareholders. The company serves 53 million active users across 13 countries and generated $1.4 billion in revenue last fiscal year. The listing, delayed from earlier in 2026, would be London's largest since 2021.
The IPO marks a major step for Bharti Group's African operations, with the mobile money unit serving 53 million active users across 13 countries. The company posted $1.4 billion in revenue last fiscal year and operates a capital-light model supporting roughly 20 percent annual growth. Airtel Africa will retain majority ownership after the listing.
The offering was originally planned for the first half of 2026 but was postponed amid geopolitical tensions in Western markets. The target valuation was also trimmed from an earlier $10 billion figure. CEO Ian Ferrao said shareholders weighed exchanges in the Middle East, Europe, and North America before choosing London, citing the depth of institutional capital available there.
This listing could signal renewed confidence in London's capital markets, which have seen few large IPOs since 2021. For Airtel Money's 53 million users across Africa, the public offering may bring greater scrutiny to how the company manages mobile financial services, potentially influencing standards for data security and consumer protection across the continent's rapidly expanding digital payments sector. Investors and regulators will likely watch the outcome closely.