“This is the internal re -organization of shareholding and has no effect on the ownership of the bank. The required regulatory and corporate approval in this regard, received by the company, “Bharti Airtel said in a regulatory filing on Tuesday.
Airtel said the transfer of shareholding comes under the work area of the related party transactions and will be done at the length of the hand.
During the fiscal year 2023-24, Airtel Payment Bank’s turnover will cost Rs. 165.1 crore while the net worth was Rs. 503.8 crore. During the same period, Bharti Airtel’s turnover will cost Rs. There was a net value of Rs 1,49,982.4 crore and Rs 80,056.1 crore.
Airtel Payments Bank, which started operations in 2017 and earned a net profit of Rs 18.5 crore in the third quarter of this financial year. As part of a regulatory order, the company may come out with the initial public offering running (IPO) of the payment bank over the next few years.
“We have a little command, we have been valued positively for a while. Therefore, in the next few years, we should potentially see the IPO in the Payments Bank, “an official said who did not want to identify.
(Now you can subscribe to our Etmarkets WhatsApp channel)
