Airtel Money plans to cut IPO target by up to 60%, targets $800 million
Airtel Africa Plc is considering cutting the amount it plans to raise from the initial public offering (IPO) of its mobile money business, Airtel Money, by as much as 60% to at least $800 million, according to people familiar with the matter. The post Airtel Money plans to cut IPO target by up to 60%, targets $800 million appeared first on Nairametrics .
Airtel Africa is contemplating reducing the target amount for the IPO of its mobile money subsidiary, Airtel Money, by up to 60%, potentially lowering the raised capital to at least $800 million, according to sources familiar with the matter. Initially, the IPO was projected to generate between $1.5 billion and $2 billion through the London Stock Exchange, but the revised target now stands at $800 million, a significant decrease of approximately 46.7% from the lower end of the previous range and a full 60% reduction from the upper limit.
The filing for the IPO may be submitted as early as next week, with trading anticipated to commence in October, based on the information provided by Bloomberg. This decision aligns with the broader trend of London seeking to attract additional significant new listings following a decline in initial public offerings since 2022, prompting reforms in the exchange’s listing rules as it competes for major IPOs with other international financial hubs.
Airtel Africa, Africa's third-largest wireless carrier and majority-owned by Indian billionaire Sunil Mittal’s Bharti group, believes the listing will provide access to a diverse international investor base with expertise in emerging-market assets and the fintech and payments sectors. The company aims to leverage the IPO to enhance the long-term value creation potential of Airtel Money.
Airtel Money has witnessed substantial growth, with revenue increasing by around 40% year-on-year, processing $196 billion in transaction value and revenue reaching $1.355 billion on a constant-currency basis in the 2025/26 financial year. The business has also expanded its customer base to 54.1 million, representing a 21.3% increase from the previous year.
This growth trajectory is distinct from Airtel Africa's core connectivity business, and the company has been investing in dedicated infrastructure, management, governance, and capital structures to prepare for the standalone listing.
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