BOM:532454

Market Chatter: Bharti Airtel Adds Banks to London IPO Syndicate for Mobile Money Unit

Bharti Airtel's (NSE:BHARTIARTL, BOM:532454) unit Airtel Africa is seeking additional investment banks to join the syndicate for a potential London listing of its mobile money business, the Financial Times reported, citing people familiar with the matter.Citi is leading work on the IPO, which could value the unit at about $10 billion and raise around $1.5 billion, according to the report.The telecom group has selected London as its preferred listing venue after previously considering a Middle East listing, the FT noted.Citi and Airtel Africa did not immediately respond to' requests for comment(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Nomura Adjusts Bharti Airtel's Price Target to INR2,355 From INR2,220, Keeps at Buy

Bharti Airtel (NSE:BHARTIARTL, BOM:532454) has an average rating of buy and mean price target of 2,294.56 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

S&P Upgrades Bharti Airtel to BBB+ on Stronger Earnings, Debt Metrics

S&P Global Ratings has upgraded Bharti Airtel's (NSE:BHARTIARTL, BOM:532454) long-term issuer credit ratings to BBB+ from BBB, among other ratings, according to a recent release.The upgrade reflects an earnings boost and greater debt-payment capacity due to rising data consumption in the high-growth markets of India and Africa, the rating agency said.S&P expects the company's Indian subscriber numbers to rise by 3% to 4% over the next year, while its African base will expand by 9% to 11%.The telecom company will also tighten its balance sheet management and will further lower its leverage, S&P said.The rating agency expects the company's ratio of funds from operations (FFO) to debt to be between 50% and 52% in fiscal 2027 and about 60% in fiscal 2028, compared with an estimate of 43.8% in fiscal 2026.The outlook is stable, stemming from expectations of the company reducing debt while improving earnings and cash flow, as well as retaining a supportive leverage level, S&P said.Significant shifts in the company's leverage, FFO-to-debt ratio, earnings, or cash flow, among other factors, could lead to future rating actions.

S&P Global Ratings Upgrades Bharti Airtel's Credit Rating to BBB+ with Stable Outlook

S&P Global Ratings has upgraded its rating for Bharti Airtel (NSE:BHARTIARTL, BOM:532454) to a 'BBB+' with a stable outlook from 'BBB' with a positive outlook, according to a filing to the Indian stock exchanges on Wednesday.The ratings upgrade is driven by a strong growth in Africa and India, and balance sheet discipline."The stable outlook reflects our view that Bharti Airtel will pay down debt as earnings and cash flows rise, while maintaining a supportive leverage tolerance for the 'BBB+' rating over the next 12-24 months," S&P said.

Bharti Airtel Raises Stake in Airtel Africa to Nearly 79%, Issues Shares to ICIL

Bharti Airtel (NSE:BHARTIARTL, BOM:532454) has completed the acquisition of a 16.3% stake, or 595.2 million shares, in Airtel Africa from ICIL, lifting its holding in the unit to about 79%.Additionally, the company allotted 146.8 million fully paid equity shares on a preferential basis to ICIL, according to a stock exchange filing on Tuesday. Following the allotment, ICIL holds about 3.25% of Bharti Airtel's post-issue equity capital.The company's paid-up share capital has increased to 31.2 billion rupees following the issuance.

Bharti Airtel Completes First Phase of Army Connectivity Initiative in Arunachal Pradesh, India

Bharti Airtel (NSE:BHARTIARTL, BOM:532454) completed the first phase of a connectivity expansion initiative for the Indian Army's 4 Corps in Tezpur, India.The company deployed network infrastructure across 30 Army stations to improve mobile coverage in remote areas of Arunachal Pradesh, according to an Indian bourse filing on Thursday.Bharti Airtel's shares were up over 1% at market close.

Indian Equities Extend Rally on Thursday as Peace Deal Optimism Supports Risk Appetite

Indian benchmark indices ended higher on Tuesday, extending gains for a third straight session as improving global sentiment and lower crude oil prices continued to support buying across sectors.The BSE Sensex rose 544.15 points, or 0.7%, to close at 76,808.48, while the NSE Nifty 50 gained 135.25 points, or 0.6%, to settle at 23,989.15.The proposed U.S.-Iran peace agreement lifted sentiment across markets as easing energy supply concerns pushed crude oil prices lower. Investors are now awaiting the formal signing of the deal, which is expected to bring an end to the conflict in the Gulf region.In corporate developments, Tata Consultancy Services (NSE:TCS, BOM:532540) said it expects to record an additional one-time charge of $70 million in the first quarter of fiscal 2027 related to its ongoing legal dispute with DXC Technology. The disclosure follows the U.S. Supreme Court's decision not to review the case.Bharti Airtel (NSE:BHARTIARTL, BOM:532454) incorporated a wholly owned subsidiary, Airtel Global IFSC, in Gujarat International Finance Tec-City. The new entity will operate as a finance company focused on global corporate treasury activities and other permitted services.

Bharti Airtel Incorporates Finance Unit in GIFT City

Bharti Airtel (NSE:BHARTIARTL, BOM:532454) has incorporated a wholly-owned subsidiary, Airtel Global IFSC, in Gujarat International Finance Tec-City (GIFT City), Gujarat, according to a Tuesday filing.The telecom operator subscribed to the initial share capital of the new entity for 20 million rupees in cash.Airtel Global IFSC has been incorporated as a finance company to undertake Global Corporate Treasury Centre activities and other permitted operations, the filing said.

Indian Equities Rally on Monday as US-Iran Peace Deal Lifts Sentiment

Indian benchmark indices climbed nearly 1% on Monday as investors welcomed a peace agreement between the U.S. and Iran.The truce ended nearly four months of conflict, easing geopolitical concerns. The agreement boosted risk appetite across global markets and triggered broad-based buying in Indian equities.The BSE Sensex rose 736.38 points, or 1%, to close at 76,264.33, while the NSE Nifty 50 gained 231.00 points, or also 1%, to settle at 23,853.90.Lower crude oil prices added to the positive mood.Analysts believe market participants will now focus on the progress of the monsoon season, potential El Niño-related risks, and the upcoming earnings season for clues on corporate growth and profitability.In corporate developments, four Vedanta Group companies - Vedanta Aluminium Metal (NSE:VAML, BOM:544780), Vedanta Power (NSE: VEDPOWER, BOM:544781), Vedanta Oil & Gas (NSE:VOGL, BOM:544782), and Vedanta Iron & Steel (NSE:VISL, BOM:544784) - began trading on Indian exchanges, completing the group's demerger into sector-focused businesses.Meanwhile, Bharti Airtel (NSE:BHARTIARTL, BOM:532454) said nearly all shareholders approved a transaction that will increase its effective stake in Airtel Africa to about 79%. The deal involves the issuance of equity shares to a promoter group entity and does not require any cash outflow.

Bharti Airtel Shareholders Approve Consolidation of Airtel Africa Stake

Bharti Airtel (NSE:BHARTIARTL, BOM:532454) said nearly 100% of its shareholders have approved a transaction to consolidate its holding in Airtel Africa, according to an Indian bourse filing on Monday.The deal involves issuing equity shares to Indian Continent Investment, a promoter group entity, in exchange for its 16.31% stake in Airtel Africa, the filing said. The transaction does not involve any cash outflow, it added.Bharti Airtel said its effective stake in Airtel Africa will rise to about 79% upon deal completion. The deal is subject to regulatory approvals, it added.Shares of Bharti Airtel rose nearly 1% in recent trade.

Bharti Airtel Expands 5G Network Across Upper North Region

Bharti Airtel (NSE:BHARTIARTL, BOM:532454) said it deployed more than 2,900 new 5G sites across its Upper North region over the past 12 months, according to a company statement on Wednesday.The expansion covers 77 districts across Punjab, Haryana, Himachal Pradesh and Jammu & Kashmir, extending 5G connectivity to more than 28.6 million customers.The telecom operator said the rollout is aimed at expanding network coverage and capacity across urban and rural markets in the region.Shares of the company fell nearly 1% in recent trade.

Bharti Airtel Slapped with Fine Over Alleged Subscriber Verification Violations

Bharti Airtel (NSE:BHARTIARTL, BOM:532454) has received a notice from the Department of Telecommunications in Andhra Pradesh, India, imposing a penalty of 667,000 Indian rupees for alleged violation of subscriber verification norms.The telecom services provider said it decided not to contest the penalty and pay the fine, according to a Tuesday filing to the Indian bourses.

IIFL Downgrades Bharti Airtel to Add from Buy; Price Target is INR2,106

Jefferies Adjusts Bharti Airtel's Price Target to INR2,350 From INR2,250, Keeps at Buy

Bharti Airtel (NSE:BHARTIARTL, BOM:532454) has an average rating of buy and mean price target of 2,341.31 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Bharti Airtel's Consolidated Profit Drops in Fiscal Q4

Bharti Airtel (NSE:BHARTIARTL, BOM:532454) recorded a sharp decline in its consolidated attributable profit to 73.3 billion Indian rupees in the fiscal fourth quarter ended March 31, against 110.2 billion rupees a year ago.Earnings per share slipped to 12.15 rupees compared with the year-ago figure of 18.38 rupees, according to a Wednesday filing to the Indian stock exchanges by the telecom services provider.Revenue from operations in fiscal Q4, however, rose to 553.8 billion rupees from 478.8 billion rupees a year earlier.The company's board recommended a final dividend of 24 rupees per share for the financial year ended March 31.