Bharti Airtel’s subsidiary Airtel Africa to be added to FTSE 100 Index

Telecom major Bharti Airtel on Thursday informed that its subsidiary Airtel Africa has been made a part of the FTSE 100 Index with effect from Monday, 31 January, 2022.

"Airtel Africa listed on the London Stock Exchange in June 2019 and the milestone underscores the growing investor confidence in the business. The company had a market capitalisation of over $7.5* billion (*as per closing price on 26.01.2022) with Enterprise Value at $10.7 billion," the company said in an exchange filing today.

Airtel entered Africa in 2010 and through its mobile telecoms and mobile money services, Airtel Africa plc offers services to over 122 million people across the 14 African markets in which it operates.

“This is a significant milestone for Airtel Africa, which becomes part of the FTSE 100 in just two and a half years of listing on the London Stock Exchange joining the most valuable companies. Airtel Africa is a strong player in the African continent, which has emerged as the next growth frontier globally,” said Sunil Bharti Mittal, Chairman, Bharti Airtel.

For the half year ended 30 September 2021, Airtel Africa’s revenue grew by 25.2% year-on-year (YoY) to $2.27 billion with double digit growth across all regions. For the period, its net profit doubled to $335 million while its leverage reduced to 1.5x from 2.2x, the release showed. 

Headquartered in India, Airtel is a global communications solutions provider with over 480 million customers in 17 countries across South Asia and Africa.