Bharti Airtel’s digital payments arm, Airtel Money, is preparing to launch its much-anticipated initial public offering (IPO) in 2026, in what is expected to be one of the most closely watched listings in India’s fintech sector.
The move comes at a time when digital payments in the country are witnessing exponential growth, fuelled by the widespread adoption of UPI and mobile wallets.
IPO Filing and Industry Estimates
According to reports, Airtel Money is likely to file draft papers with the Securities and Exchange Board of India (SEBI) in the first half of 2026. While the company has yet to disclose the issue size, industry estimates suggest the IPO could raise between $2 billion and $3 billion, potentially making it one of the largest fintech listings in India.
Use of Funds and Market Position
The funds are expected to be used for expanding Airtel Money’s merchant network, strengthening its lending portfolio, and investing in new-age digital banking services. Market analysts note that the listing will also enhance the company’s visibility in a highly competitive payments landscape dominated by players such as Paytm, PhonePe, and Google Pay.
Transformation and Service Offerings
Launched a decade ago as a basic mobile wallet, Airtel Money has since transformed into a full-stack digital financial services platform. Today, it offers payments, microloans, insurance products, and bill payments, catering to both urban consumers and the underbanked rural population. With Bharti Airtel’s telecom base of over 380 million subscribers, the company enjoys a natural edge in customer acquisition and reach.
Expansion in Africa
The business has also scaled rapidly in Africa. As of the June quarter, Airtel Money had 45.8 million customers on the continent, with an annualized transaction value of $162 billion. Africa has become a major hub for fintech companies tapping into a young, tech-savvy population seeking modern financial solutions.
Global Investment and Strategic Advisory
Past investments highlight strong global interest in the platform. In 2021, TPG Inc. invested $200 million in Airtel Money at a $2.65 billion valuation, followed by a $100 million commitment from Mastercard Inc. Later that year, an affiliate of Qatar’s sovereign wealth fund also acquired a stake. Bloomberg has reported that Airtel Africa Plc, led by Sunil Mittal, has engaged Citigroup Inc. to advise on a potential IPO of its mobile money unit.