Bharti Airtel Transfers Major Stake in Payments Bank

Bharti Airtel has completed the transfer of its 69.94% stake in Airtel Payments Bank to its subsidiary, Airtel Limited. Despite this change, the reorganization will not affect the bank's ownership. The transaction follows necessary regulatory approvals and is categorized under related party transactions.

Bharti Airtel has announced the transfer of its entire 69.94 percent stake in Airtel Payments Bank to its wholly-owned subsidiary, Airtel Limited. The move, confirmed in a recent regulatory filing, signifies an internal reorganization of shareholding within the group while maintaining the same ownership of the bank.

The transaction, classified as a related party transaction conducted at arm's length, has received all requisite regulatory and corporate approvals. Bharti Airtel emphasized that this restructuring will not impact the overall ownership structure of Airtel Payments Bank.

In the financial year 2023-24, Airtel Payments Bank reported a turnover of Rs 165.1 crore. The company's recent filing highlighted that the approval process for the share transfer has been completed successfully, allowing the internal restructuring to proceed seamlessly.

(With inputs from agencies.)