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Bharti Airtel announces new corporate structure to focus on digital

·2-min read

The new structure envisages Airtel Digital Limited folding into the listed entity, Bharti Airtel. This will now house all of the digital assets spanning Wynk Music, Airtel X stream, Airtel Thanks, Mitra Payments platform used by a million retailers, Airtel Ads, Airtel IQ, Airtel Secure, Airtel Cloud and all future digital products and services.

The digital ambition of Bharti Airtel is closely intertwined with the spine that connectivity provides across the country. It is therefore intended to house all the telecom businesses in a newly created entity, Airtel Limited – a wholly owned subsidiary of Bharti Airtel.

Bharti Telemedia, the 100% arm operating DTH services will sit alongside Airtel Limited for now. It is intended to eventually fold the DTH business into Airtel Limited to move towards the NDCP vision of converged services to customers. The company has moved the government to seek clarity on licensing policy given that carriage i.e telecom and DTH is currently being regulated and managed under two separate ministries of Communications and I&B respectively.

Airtel Payments Bank will remain a separate entity under Bharti Airtel and work closely with the growing customer base to play a pivotal role in realising the digital opportunity that payments and financial services provides.

All of the company's infrastructure businesses such as Nxtra and Indus Towers will continue to remain in separate entities as they are currently. So will International subsidiaries and affiliates.

The Board in its meeting held on Wednesday approved the scheme enabling the company to file for all statutory approvals to give effect to the proposed rearrangement.

Sunil Bharti Mittal, Chairman, Bharti Airtel said the new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses – Digital, India, International and Infrastructure, each, in a razor sharp way.

The announcement was made on Wednesday, 14 April 2021. Shares of Bharti Airtel had settled 2.61% higher at Rs 536 on Tuesday, 13 April 2021.

Bharti Airtel is a global communications solutions provider with over 458 million customers in 18 countries across South Asia and Africa. The company ranks amongst the top three mobile operators globally and its networks cover over two billion people. Airtel is India's largest integrated communications solutions provider and the second largest mobile operator in Africa.



Source: Capitalmarket.com

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