Telecom major Bharti Airtel announced that it has transferred 69.94 per cent shareholding in Airtel Payments Bank to its wholly owned subsidiary, Airtel Limited as part of an internal re-organisation of shareholding.
In a regulatory filing, the company said, “This is to inform you that the shareholding of 69.94%, held by Bharti Airtel Limited (the Company) in Airtel Payments Bank Limited (Bank), is being transferred to Company’s wholly owned subsidiary (i.e. Airtel Limited), post receiving requisite regulatory and corporate approvals.”
The telecom company said that the move is part of an internal re-organization of shareholding and has no impact on the ownership of the Bank. The requisite regulatory and corporate approvals in this regard, have been received by the company
The share transfer agreement was executed on March 11, 2025. The transaction, classified as a related party transaction, will be conducted on an arm’s length basis, it said.
Earlier in February, Bharti Airtel had released its fiscal third quarter earnings report with profit at Rs 14,781.20 crore, reporting a surge of 505.24 per cent in comparison to Rs 2442.20 crore during the corresponding quarter of FY24. The telecom major recorded Q3 revenue from operations at Rs 45,129.30 crore, up 19.08 per cent YoY.
The revenue growth, it had said, was driven by strong underlying momentum in India, sustained constant currency growth in Africa and Indus Tower Ltd consolidation effective November 19, 2024.