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.
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Paytm brings UPI Lite Wallet for low-value transactions
Paytm’s parent company One97 Communications (OCL) is emphasizing upon UP...
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
TALLY SOLUTIONS PVT. LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
EXIDE INDUSTRIES LTD.
MICROTEK INTERNATIONAL PVT. LTD.
Technology Icons Of India 2023: Harsh Jain
Harsh Jain is an Indian Entrepreneur, the co-founder and CEO of the In...
Technology Icons Of India 2023: Lt Gen (Dr.) Rajesh Pant (Retd.)
LT Gen(Dr.) Rajesh Panth (Retd.), National cyber security coordination...
Technology Icons Of India 2023: Rajeev Chandrasekhar
Rajeev Chandrasekhar is the Union Minister of State for Electronics an...
CSCs enabling rural India digitally empowered
Common service centres (CSCs) are digital access points under the Digi...
ECIL continues to keep India ahead in the growth of Information Technology and Electronics
ECIL played a very significant role in the training and growth of high...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
INFLOW TECHNOLOGIES PVT. LTD.
Inflow Technologies is a niche player in the IT Infrastructure Distrib...
Crayon Software Experts India Pvt Ltd
Crayon helps its customers build the commercial and technical foundati...
M. TECH SOLUTIONS (I) PVT. LTD.
M.Tech is a leading cyber security and network performance solutions ...