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Airtel Uganda plans $216 million IPO

Livemint

Livemint · 2y ago

Airtel Uganda plans $216 million IPO

Airtel Uganda Limited has announced its initial public offering (IPO) with shares priced at 100 UGX each. The IPO is set to offer up to 20% of the company's stake or 8 billion shares. The offering aims to meet regulatory requirements for mandatory listing by December 16, 2023. The IPO, open from Wednesday to October 13, will lead to trading on the Uganda Securities Exchange starting October 31. Airtel Uganda, a major player in the Ugandan mobile telecommunications market, reported revenues of UGX 1,594 billion in 2022.

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Airtel’s Africa arm raising additional capital from overseas investor

VCCircle

VCCircle · 5m ago

Airtel’s Africa arm raising additional capital from overseas investor

Airtel Africa, a division of India's Bharti Airtel Ltd, plans to secure up to $100 million in debt capital from a notable international investor. This funding aims to bolster its operations in Kenya and Rwanda, two rapidly growing economies in Africa. The strategic financial infusion is intended to support Airtel Africa's expansion efforts, leveraging the robust economic growth in these regions to enhance the company's presence and market share.

Airtel unveils exclusive T20 World Cup offers: Free Disney+ Hotstar and more

Livemint

Livemint · 1y ago

Airtel unveils exclusive T20 World Cup offers: Free Disney+ Hotstar and more

Airtel, a leading telecommunications provider in India, has announced special offers for the T20 World Cup 2024. Users can enjoy a free three-month subscription to Disney+ Hotstar with Airtel's recharge plans. These offers apply to prepaid, postpaid, international roaming, home broadband, and Airtel Digital TV services. Prepaid plans start at ₹499, providing 3GB of daily data for 28 days, along with a Disney+ Hotstar subscription. Postpaid plans offer a one-year subscription to Disney+ Hotstar and access to over 20 OTT platforms on the Airtel Xstream App. Home broadband plans include unlimited Disney+ Hotstar subscriptions. Airtel also offers international roaming packs for fans traveling to the US and Canada.

After Jio, Airtel raises mobile tariffs from 3 July. Details here

Livemint

Livemint · 1y ago

After Jio, Airtel raises mobile tariffs from 3 July. Details here

Telecom giant Bharti Airtel has announced a hike in mobile tariffs, following the recent increase by Reliance Jio. Airtel stated that the move was necessary to maintain a financially healthy business model for telcos in India. The company has increased its prepaid plans by 11-21% and postpaid plans by 10-20%. However, it claimed that the increases were modest and aimed not to burden customers. Airtel also confirmed that it will not introduce separate 5G tariff plans, unlike Jio, which has made 5G services available only on certain plans.

Airtel to shut down Wynk Music app, absorb all employees

Economic Times

Economic Times · 1y ago

Airtel to shut down Wynk Music app, absorb all employees

Bharti Airtel is set to shut down its Wynk Music app and depart from the music vertical. The company will be incorporating all Wynk Music employees within its organization. Airtel plans to close down Wynk Music within the next few months. A company spokesperson confirmed the news, stating that Airtel customers will now have access to Apple Music and Wynk Premium users will receive exclusive offers from Airtel for Apple products. Airtel has partnered with Apple to provide special offers on Apple Music to its iPhone users.

East Africa-focused PE firm Ascent Capital strikes fourth bet from fund II

VCCircle

VCCircle · 1y ago

East Africa-focused PE firm Ascent Capital strikes fourth bet from fund II

Ascent Capital, an East Africa-focused private equity firm, has made its fourth investment from its second fund, Ascent Rift Valley Fund II. The firm acquired a minority stake in Kenyan paper packaging manufacturing company, Dune Packaging, through the $128 million fund. Dune Packaging produces paper packaging materials used in various industries, including food and beverage, pharmaceuticals, and retail. The deal includes veto rights for Ascent Capital in terms of senior management appointment, business plans, and budgeting decisions. Ascent Capital's second fund invests in small and medium-sized enterprises across Ethiopia, Kenya, Uganda, Rwanda, and Tanzania in various sectors.

Bharti Airtel’s Africa unit set to bag a big cheque from offshore investor

VCCircle

VCCircle · 1y ago

Bharti Airtel’s Africa unit set to bag a big cheque from offshore investor

Airtel Africa, a subsidiary of Bharti Airtel, is expected to receive $200 million in fresh capital from an existing offshore investor. The funds will primarily be raised through debt and will provide financial support to the second-largest telecom operator in Africa. Airtel Africa is listed on the London Stock Exchange.

General Atlantic mulls Rubicon IPO; Airtel Eyes Vodafone's Indus Stake

VCCircle

VCCircle · 1y ago

General Atlantic mulls Rubicon IPO; Airtel Eyes Vodafone's Indus Stake

Private equity firm General Atlantic is considering an initial public offering (IPO) for its majority-owned portfolio company, Rubicon Research Pvt Ltd. The firm has been discussing potential options for the IPO with investment banks. In other news, Airtel is reportedly showing interest in acquiring Vodafone's stake in Indus, a telecommunications infrastructure firm.

Apple eyes bigger slice of India's streaming market with Airtel deal

Economic Times

Economic Times · 1y ago

Apple eyes bigger slice of India's streaming market with Airtel deal

Apple has partnered with India's Bharti Airtel to offer the telecom company's premium customers free access to its music and video streaming services. This move allows Apple to tap into the vast Indian market, which is dominated by competitors like Netflix, Amazon Prime Video, Disney+ Hotstar, and JioCinema. Apple TV+ will be bundled with Airtel's WiFi and Postpaid plans, while Apple Music will be available to Airtel's Wynk music app users. The deal aims to expand Apple's digital services reach in India, where Airtel is the second-largest telecom operator with 281 million subscribers.

Airtel introduces in-flight roaming packs starting at ₹195

Livemint

Livemint · 1y ago

Airtel introduces in-flight roaming packs starting at ₹195

Bharti Airtel, the second-largest mobile operator in India, has launched new in-flight roaming packages for pre-paid and post-paid customers. Starting at ₹195, the plans include data, outgoing calls, and SMS with a validity of 24 hours. The company has also integrated in-flight roaming with plans starting at ₹2,997 and ₹3,999, offering free in-flight connectivity. Airtel has partnered with Aeromobile to provide connectivity on 19 international airlines. The service will be supported by 24/7 customer support and a dedicated WhatsApp number, as well as the Airtel Thanks App for self-service options.

Bharti Airtel in talks with Vodafone for majority stake in Indus Towers: Report

Livemint

Livemint · 1y ago

Bharti Airtel in talks with Vodafone for majority stake in Indus Towers: Report

Bharti Airtel is reportedly in talks to acquire an additional 3% stake in Indus Towers from Vodafone, which would give Airtel a controlling 52% stake in India's largest mobile tower installation company. This comes after Vodafone recently sold 18% equity in Indus Towers for approximately INR 15,300 crore. Airtel also plans to merge its data center business, Nxtra, with Indus Towers. The proceeds from the deal would help Vodafone pay off its outstanding dues of nearly INR 5,400 crore.

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