Airtel to focus strongly for digitising digital assets with Airtel Digital Ltd
By MYBRANDBOOK
Countries leading telco Bharti Airtel announced a new corporate structure under which group firm Airtel Digital Ltd will merge into the listed entity Bharti Airtel.
Under the new structure, Bharti Airtel, housing the digital assets, becomes the holding company of separate units – telecom business under Airtel, Airtel Payments Bank, international businesses including Airtel Africa and infrastructure business under Nxtra and Indus.
“The new structure envisages Airtel Digital Ltd folding into the listed entity, Bharti Airtel,” said a company statement on Wednesday. This will encompass Wynk Music, Airtel Xstream, Airtel Thanks app, Mitra payments platform, Airtel Ads, Airtel IQ, Airtel Secure, Airtel Cloud and all future digital products and services.
Analysts said the move would help the group attract strategic and financial investors as well as scale up its digital business. The company expects to increase the digital business revenue to more than Rs 1,000 crore . However, Airtel Payments Bank will remain a separate entity under Bharti Airtel and work closely with the growing customer base to play a pivotal role in realising the digital opportunity that payments and financial services provides," the company said in the statement.
Sunil Mittal, Chairman, Bharti Airtel said that, the new structure would set the ‘’exciting future course’’ for the group and provide focus on four distinct businesses – digital, India, international and infrastructure in a ‘’razor-sharp’’ way. ‘’We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly while providing flexibility to unlock value for our shareholders. This structure will serve us well over the coming years and is a win-win for all stakeholders,” Mittal said.
Stating that its digital ambition is closely intertwined with the spine that provides connectivity across the country, the company said it intended to house all telecom businesses in a newly created entity, Airtel Limited, a wholly-owned subsidiary of Bharti Airtel Limited.
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
SECUREYE SERVICES PVT. LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
GLOBUS INFOCOM LTD.
POLYCAB INDIA PVT. LTD.
Technology Icons Of India 2023: Nikhil Rathi
Nikhil Rathi, Co-founder & CEO of Web Werks, a global leader in Data C...
Technology Icons Of India 2023: Josh Foulger
Josh is the Country Head of India and MD of Bharat FIH Ltd (A Foxconn ...
Technology Icons Of India 2023: Lt Gen (Dr.) Rajesh Pant (Retd.)
LT Gen(Dr.) Rajesh Panth (Retd.), National cyber security coordination...
BSE provides highly secure, efficient and transparent market for trading
BSE (formerly known as Bombay Stock Exchange Ltd.) is Asia's first & t...
CSCs enabling rural India digitally empowered
Common service centres (CSCs) are digital access points under the Digi...
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
SAVEX TECHNOLOGIES PVT. LTD.
Savex Technologies is the 3rd largest Information & Communication Tec...
TECH DATA, A TD SYNNEX COMPANY
Tech Data Corporation was an American multinational distribution compa...
BEETEL TELETECH LTD.
: Beetel is one of the oldest and most reputed brands in the Industry,...