Bharti Airtel share price rises 2% after company signs deal with Elon Musk’s SpaceX; Do you own?
At 9:20 am, Bharti Airtel stock was trading at ₹1,689.95 on March 12. Despite weak market sentiments, Airtel stock has rallied over 5 per cent on NSE.
Telecom giant Bharti Airtel's share price surged as much as 2 per cent on Wednesday's trading session after the company announced it has signed a partnership with Elon Musk's SpaceX to provide Starlink's high-speed internet services in India.
At 9:20 am, Bharti Airtel stock was trading at ₹1,689.95 on March 12. Despite weak market sentiments, Airtel stock has rallied over 5 per cent on NSE.
However, the stock lost its initial gains after reports emerged that Reliance Industries' (RIL) telecom division, Jio, had also partnered with SpaceX to provide high-speed internet services in India.
Bharti Airtel- SpaceX deal
The partnership aims to explore the availability of Starlink equipment in Airtel's retail stores, offer Starlink services to business customers through Airtel, and enhance connectivity in rural areas.
However, Bharti Airtel's announcement does not indicate that its collaboration with SpaceX is exclusive, though it does create a new revenue opportunity for the company.
Airtel is the largest stakeholder in Eutelsat OneWeb, a competitor to Starlink, with a 21.2% share. OneWeb has already received approval to operate in India, awaiting spectrum allocation.
In the short term, the benefits of this deal may be limited, as Starlink has yet to obtain its license in India.
Bharti Airtel's Managing Director and Vice Chairman, Gopal Vittal, described the collaboration with SpaceX as a major milestone, reaffirming the company's dedication to enhancing satellite connectivity. He stressed that this partnership would allow Airtel to deliver high-quality broadband to even the most remote regions of India, ensuring reliable and affordable internet access for individuals, businesses, and communities.
However, the agreement remains subject to regulatory approvals for selling Starlink’s satellite-based communication services in India.
The partnership will explore multiple opportunities to expand Airtel’s services, including making Starlink equipment available at Airtel retail stores, offering Starlink services to business clients, and connecting rural communities, schools, and healthcare centers. Additionally, both companies will assess how Starlink can strengthen Airtel’s network, with SpaceX potentially leveraging Airtel’s ground infrastructure in India.
Bharti Airtel transfers 70% stake in Airtel Payments Bank to subsidiary
Telecom giant Bharti Airtel has transferred a 69.94% stake in Airtel Payments Bank to its wholly owned subsidiary, Airtel Limited, as part of an internal shareholding reorganization.
“This is to inform you that the shareholding of 69.94%, held by Bharti Airtel Limited (the Company) in Airtel Payments Bank Limited (Bank), is being transferred to Company’s wholly owned subsidiary (i.e. Airtel Limited), post receiving requisite regulatory and corporate approvals," the company said in a regulatory filing.
The telecom company stated that this step is part of an internal shareholding reorganization and does not affect the Bank's ownership. The necessary regulatory and corporate approvals for this process have been obtained.
The share transfer agreement was signed on March 11, 2025. The transaction, categorized as a related party transaction, will be carried out on an arm’s length basis, according to the statement.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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