Airtel Money files for London IPO, targets $8-9 billion valuation

Airtel Money, the mobile money arm of Airtel Africa, announced on Wednesday it intends to file for an initial public offering in London. The company is targeting a valuation of $8 billion to $9 billion and aims to raise at least $800 million, which would make it one of London's largest listings this year. Airtel Money has 53 million monthly active users across 13 countries in sub-Saharan Africa.

The company had originally planned a listing in the first half of 2026 but delayed it to the second half in May, citing unfavourable market conditions tied to the US-Israeli war against Iran. Airtel Africa is already listed on the FTSE 100 and is part of the Indian conglomerate Bharti Enterprises, controlled by billionaire Sunil Bharti Mittal. The firm said it will disclose additional details of the offer, including the indicative price range, in early October.

Update, 30 September 2026: The Hindu Business Line and NDTV Profit also report the news, confirming the target of at least $800 million at a valuation of $8-9 billion. The Guardian adds that CEO Ian Ferrao called the listing a ‘new chapter’ and noted the business is debt-free. The International Finance Corporation has agreed to buy up to £67.2 million ($90 million) of offer shares, according to Economic Times and Rediff. Livemint reports that the offer is solely an offer for sale, with no fresh capital raised, and that the company processed transactions worth $213 billion in the 12 months ended 30 June 2026.