Bharti Airtel transfers 69.94% stake in Airtel Payments bank to Airtel Ltd

Bharti Airtel has transferred its entire 69.94 per cent stake in Airtel Payments Bank to wholly-owned subsidiary Airtel Limited, a regulatory filing said on Tuesday.

"The shareholding of 69.94 per cent, held by Bharti Airtel Limited in Airtel Payments Bank Limited, is being transferred to the Company's wholly-owned subsidiary (i.e. Airtel Limited), post receiving requisite regulatory and corporate approvals. The above is an internal reorganisation of shareholding in the Bank and has no impact on the ownership of the Bank," Bharti Airtel said in the filing.

According to the filing, the requisite regulatory and corporate approvals with regard to the transaction have been received by the company.

 

Airtel Payments had a turnover of Rs 1,835.8 crore in 2023-24.

"The transfer of shareholding falls within the purview of related party transactions and shall be done at arm's length," the filing said.