• Sunil Bharti Mittal controls Bharti Enterprises. Photograph: Ludovic Marin/AFP/Getty Images.
Airtel Money, the mobile money arm of Airtel Africa, has shifted its plans to float on the London Stock Exchange, till October.
The company is hoping to raise about $800m (£601m) from the initial public offering (IPO) and is targeting a valuation of $8bn to $9bn, which would make it one of London’s largest listings in recent years.
In a statement on Wednesday,Airtel Money’s chief executive, Ian Ferrao, said that the company would announce more details about the float in early October, including the indicative price range and number of shares to be offered, with final pricing to follow later in the month.
Airtel Africa had originally targeted a listing in the first six months of 2026 but delayed it to the second half of the year, blaming unfavourable market conditions as a result of the US-Israeli war on Iran. Several other companies also pushed back planned IPOs amid the market volatility caused by the conflict.
Airtel Money has 53 million monthly active users across 13 countries in sub-Saharan Africa, including Uganda, Zambia and the Democratic Republic of Congo.
It operates through a network of branches and kiosks, which enable customers to load money on to their phones, withdraw cash and access other money services, and the company generated revenues of just under $1.4bn in the last financial year.
Airtel Money’s parent company is Airtel Africa, a telecoms provider that is part of the Indian conglomerate Bharti Enterprises, which is ultimately controlled by the billionaire Sunil Bharti Mittal.
Airtel Africa is already listed on the FTSE 100 but said it wanted Airtel Money to be listed separately.
