In a strategic internal reorganization, Bharti Airtel has transferred its 69.94% stake in Airtel Payments Bank to Airtel Limited, its wholly owned subsidiary. The telecom giant clarified in a regulatory filing on Tuesday that this restructuring does not impact the ownership of the bank.
Key Highlights of the Transfer
- No Change in Ownership – The restructuring is purely an internal exercise.
- Regulatory Approvals Secured – Airtel confirmed that the transaction complies with necessary corporate and regulatory mandates.
- Related Party Transaction – The transfer is categorized as a related party transaction but is being conducted at arm’s length, ensuring transparency.
Financial Performance of Airtel Payments Bank
- FY24 Turnover: ₹165.1 crore
- Net Worth: ₹503.8 crore
- Q3 FY24 Revenue: ₹700 crore
- Q3 FY24 Net Profit: ₹18.5 crore
In comparison, Bharti Airtel’s turnover for FY24 stood at ₹1,49,982.4 crore, with a net worth of ₹80,056.1 crore.
Potential IPO for Airtel Payments Bank
With strong financials and profitability, Airtel Payments Bank is now a candidate for an initial public offering (IPO) in the coming years.
- The bank has been net worth positive for some time, meeting regulatory mandates.
- According to an anonymous company official, an IPO could be expected within the next couple of years.
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