Bharti Airtel is preparing to list its African mobile financial services business, Airtel Money, in London this year. With a reported valuation of $10bn, this move marks a significant milestone for the unit, which has achieved meaningful scale with quarterly revenue exceeding $400mn. The business has been growing at 25 per cent annually, targeting a massive opportunity where nearly 65 per cent of adults in its footprint lack access to formal bank accounts.

A London listing on the LSE is intended to provide access to a broader investor base compared to India. This strategic move comes as Airtel expands its financial footprint in India, having recently secured a licence from the Reserve Bank of India to operate as a non-banking finance company. This status allows the company to expand operations, disburse loans, and offer microcredit products by leveraging digital data from its core mobile business.

This flotation would be the largest new listing in London since the fintech Wise was valued at nearly £9bn in 2021. For promoter Sunil Bharti Mittal, the move secures a second major footprint on the London market, following his significant stake in British Telecom.