Bharti Airtel Lifts Airtel Africa Stake to ~79% in Share-Swap Deal With ICIL

Bharti Airtel told the exchanges it has closed a composite transaction with Indian Continent Investment Limited (ICIL). The structure has two linked legs: Airtel acquired ICIL's holding in Airtel Africa plc — its UK-listed subsidiary — and, in exchange, issued new equity shares of Airtel to ICIL on a preferential basis. The filing notes the deal followed earlier announcements dated May 13, 2026 and June 15, 2026, and proceeded after board, shareholder and all statutory/regulatory approvals were in place.

The acquisition of the Airtel Africa shares was completed on June 22, 2026. As a result, the company said its effective stake in Airtel Africa has risen to approximately 79%. To settle the consideration, the Special Committee of Directors for Preferential Issue approved the allotment of fresh fully paid-up equity shares to ICIL. Following that allotment, ICIL holds about 3.25% of Airtel's total post-issue equity share capital, per the filing.

The preferential issue increases Airtel's paid-up equity base. Per the filing, the paid-up equity share capital now stands at the figure set out below, comprising the enlarged count of fully paid-up shares plus a small tranche of partly paid-up shares. The transaction therefore consolidates Airtel's control over its African operations while modestly diluting the existing equity through the new issuance to ICIL.