Key facts
- Airtel Money plans to raise around $800 million in a London IPO.
- The company is valued at $8-9 billion.
- The offering will involve the sale of existing shares.
- The International Finance Corporation will invest up to $90 million.
- Airtel Money had 53 million monthly active users as of June 30, 2026.
- Total processed value reached $213 billion in the 12 months ended June 2026.
Airtel Money, the digital payments business of Airtel Africa, is preparing for a potential listing on the London Stock Exchange, which could be one of the UK's largest initial public offerings in recent years. The company aims to raise approximately $800 million by selling existing shares, valuing the business at $8-9 billion. This move is intended to support the next phase of Airtel Money's growth.
The International Finance Corporation (IFC) has committed to investing up to £67.2 million, or about $90 million, by purchasing shares from existing shareholders at the final offer price. Further details regarding the indicative price range and issue size are expected in the prospectus in early October, with the final offer price to be announced mid-October.
Airtel Money is a subsidiary of London-listed Airtel Africa, which is controlled by billionaire Sunil Bharti Mittal's Bharti Enterprises. Airtel Africa currently owns 77.85% of Airtel Money and intends to remain a long-term strategic shareholder post-IPO. In 2021, TPG, Mastercard, Qatar Investment Authority, and Chimetech Holding collectively acquired minority stakes for $550 million.
Launched in 2011, Airtel Money operates as a digital financial services platform across 13 African markets. As of June 30, 2026, it served approximately 53 million monthly active users, supported by over 2.3 million agents, more than 490,000 merchants, and over 3,700 enterprises. The company reported a total processed value (TPV) of $213 billion for the 12 months ending June 2026, reflecting a 33% compound annual growth rate (CAGR) since the year ended March 2018. Revenue and EBITDA grew at 32% and 40% CAGRs, respectively, over the same period, with revenue reaching $1.35 billion in FY26 and an EBITDA margin of around 50%. The business is debt-free and generates significant cash flow.