Bharti Airtel announces ₹28,222 crore share swap deal to raise stake in Africa business

Bharti Airtel’s board approved a ₹28,222 crore share swap deal on May 13 to issue up to 14,67,61,335 or 14.67 crore shares of the company to Indian Continent Investment against a swap of up to 59,52,04,251 crore shares in Airtel Africa business, according to an exchange filing.

In the NSE filing, the company disclosed that the board has approved its plans to raise its stake in UK-listed Airtel Africa Plc up to 16.31%, with a focus on consolidation and strengthening of the subsidiaries.

The issue price of the shares will be at ₹1,923 per share, according to the filing data.

“The equity shares shall be issued at a price of ₹1,923 per share, well above the floor price in terms of SEBI ICDR Regulations, and is based on the valuation report obtained by the Company from independent registered valuer, certifying the swap ratio,” said the company.

Shares of Bharti Airtel were trading 2.46% higher at ₹1,833.20 during Thursday’s market session, compared to ₹1,789.20 at the previous market close.

Dividend & Q4 Snapshot

Bharti Airtel has also announced a ₹24 per share final dividend for the financial year ended 2025-26 for shareholders.

If approved by the shareholders in the upcoming annual general meeting (AGM), the company will pay eligible investors a final dividend of ₹24 per share with a face value of ₹5 per share for every stock they own in Bharti Airtel.

After the members' approval, the final dividend will be paid within 30 days from the date of the AGM and the record date to determine the eligibility of shareholders will be communicated to the exchanges and shareholders in the near future.

Telecom service provider, Bharti Airtel, reported a 22.54% decline in consolidated net profits to ₹7,325 crore, compared year-on-year with ₹11,021 crore in the same quarter of the previous financial year.

The revenue from core operations rose 15.68% to ₹55,383 crore in the March quarter, compared with ₹47,876 crore in the same period a year ago, according to the consolidated financial statements.

The company’s net profits declined largely due to the increase in the company’s network operating expenses, which rose 12% YoY to ₹10,208 crore, compared with ₹9,105 crore in the same period a year ago.

Bharti Airtel’s top-line growth was sustained in India and Africa, the two major markets for the company.

Bharti Airtel share price trend

Shares of Bharti Airtel have delivered more than 221% returns over the last five years, and over 124% gains in the last three years, according to the exchange data. However, the shares have lost 2.8% in the past one year.

So far in 2026, the telecom stock has lost 15% year-to-date, and has dropped 4.7% in the past one month. Bharti Airtel’s stock has lost 2.4% in the last five market sessions.

The company’s market capitalisation was at over 10.85 lakh crore as of the stock market close on Wednesday, May 14.