Indian billionaire’s payments firm plots biggest London flotation in years
Sunil Bharti Mittal’s Airtel Money targets $9bn IPO in boost for ailing UK stock market A payments business that operates across Africa and is ultimately controlled by an Indian billionaire has announced its intention to float on the struggling London Stock Exchange . Airtel Money, the mobile money arm of Airtel Africa, is planning one of the biggest UK listings in years, in a boost for the…
Indian billionaire Sunil Bharti Mittal's payments firm Airtel Money is set to make a significant push in London with plans for a major IPO. The mobile money arm of Airtel Africa is targeting a $9 billion valuation for the initial public offering, marking one of the largest UK listings in recent years. Airtel Money serves 53 million monthly active users across 13 countries in sub-Saharan Africa, generating revenue of nearly $1.4 billion last year.
The company operates through a network of local branches and kiosks, providing customers with mobile money services, cash withdrawals, and other financial products. Airtel Money's parent company, Airtel Africa, is part of the Indian conglomerate Bharti Enterprises, which is ultimately controlled by Mittal. Despite initial plans to list in the first half of 2026, Airtel Money has delayed the IPO to the second half of the year due to unfavorable market conditions triggered by the US-Israeli conflict in Iran.
The London stock exchange's decision to host Airtel Money's listing could signal a potential resurgence for the UK market, which has faced recent challenges in attracting new listings. Airtel Money's strong revenue growth and deep understanding of emerging markets in Africa may attract significant global institutional investment.
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