New Delhi, April 15, 2021: Bharti Airtel, has gone in for a new corporate structure to sharpen the focus of the company in driving the rapidly unfolding digital opportunity in India.
In the new structure Airtel Digital Limited folds into the listed entity, Bharti Airtel. This will now house all of the digital assets spanning Wynk Music, Airtel X stream, Airtel Thanks, Mitra Payments platform used by a million retailers, Airtel Ads, Airtel IQ, Airtel Secure, Airtel Cloud and all future digital products and services.
All the telecom businesses will be part of a newly created entity, Airtel Limited – a wholly owned subsidiary of Bharti Airtel Limited.
Bharti Telemedia, the 100% arm operating DTH services will sit alongside Airtel Limited for now. It is intended to eventually fold the DTH business into Airtel Limited to move towards the vision of converged services to customers.
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.
All of the company’s infrastructure businesses such as Nxtra and Indus Towers will continue to remain in separate entities as they are currently. So will International subsidiaries and affiliates.
The Board in its meeting held yesterday approved the scheme enabling the company to file for all statutory approvals to give effect to the proposed rearrangement.