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<ul><li>Airtel has been one of the resilient stocks over the last few months even as the AGR issue and Coronavirus-fueled market crash has wiped off lakhs of crores of investor wealth.</li><li>The Airtel stock could rally thanks to the Jio-Facebook deal and the weakening of Vodafone Idea.</li><li>The Airtel stock has been given a ‘Buy’ rating with a target price of ₹606, which is an upside of more than 20%.</li></ul>Airtel was the market leader before the arrival of <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>, but it has since <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-jio-becomes-the-largest-telco-by-revenue-and-subscribers-as-industry-shows-signs-of-recovery/articleshow/73667566.cms">ceded its lead position</a> to the Mukesh Ambani-owned telecom company. However, the gap between the two leading mobile service providers may be too huge, according to market experts. When it comes to the market cap, though, Airtel is 1.6 times smaller than Jio. Vodafone Idea, on the other hand, is 39 times smaller than Jio, which is currently valued at ₹4.4 lakh crore <a href="https://www.businessinsider.in/business/news/jio-a-3-year-old-telecom-company-is-now-bigger-than-hdfc-infosys-and-itc-and-indias-largest-bank/articleshow/75290132.cms">after the Facebook deal</a>. <div type="image" title="Jio market cap telecom companies" msid="75533839" hostid="261"></div> <div type="Article" hostid="261" msid="75290132" title="Jio, a 3-year old telecom company, is now bigger than HDFC, Infosys and ITC – and India's largest bank" mstype="2" mssubtype="0"></div> Analysts suggest that Airtel has been one of the more resilient stocks in the market even as the economic downturn and Coronavirus crisis have wiped lakhs of crores of investor wealth. Its strong financials, the weakening of Vodafone Idea and the Jio-Facebook deal have all contributed to Airtel’s stock scaling back to its 52-week high of ₹568. <div type="image" title="Airtel stock 01_01_20 to 04_05_20." msid="75533863" hostid="261"></div> “Airtel has been able to raise funds to meet current AGR demands. In the short-term, Airtel will be the beneficiary if there is any weakening of Vodafone Idea,” said Mahesh Uppal, Telecom Analyst &amp; Director, Com First India told Business Insider. “It is often forgotten that, in general, Airtel and Vodafone, being early entrants to the market, have a higher quality of subscribers, in terms of paying capacity, than their competitors. If the AGR issue does not get resolved to the comfort of Vodafone Idea, Airtel will be best placed to benefit,” he further added. "Expects positive for Bharti Airtel after US based fund Silver Lake partner bought Reliance Jio stake at a premium. Higher valuation on Reliance Jio may positive on Bharti Airtel," <a href="https://twitter.com/MotilalOswalLtd/status/1257514187766460416" data-type="tilCustomLink" style="">said</a>Motilal Oswal. AGR, short for adjusted gross revenue, is a revenue sharing agreement between the Indian government and the telecom companies. According to this agreement, the telecom companies have to share a percentage of their AGR as annual license fee and spectrum usage charges. The Supreme Court recently ordered companies to pay up a disputed amount retrospectively for over a decade. According to the Department of Telecom estimates, Airtel owes ₹35,586 crore to the government. What are the analysts saying? “We retain our constructive view on Bharti Airtel (Bharti) considering its ability to capitalise on the higher data demand tailwind leveraging its strong balance sheet and network capacity,” said Edelweiss Research in its report dated April 20 where it pegged the target price for Airtel at ₹606. <table><tbody><tr><td>Brokerage</td><td>Target price for Airtel</td></tr><tr><td>Edelweiss </td><td>606</td></tr><tr><td>Angel Broking</td><td>594</td></tr></tbody></table> India is <a href="https://www.businessinsider.in/tech/news/heres-why-facebooks-mark-zuckerberg-is-paying-top-dollar-for-a-stake-in-mukesh-ambanis-reliance-jio/articleshow/75286331.cms">expected to add</a> more than 150 million active internet subscribers in the next 12 months, according to IAMAI. Given the weakening of Vodafone-Idea, both as a firm and a brand, the India telecom market is narrowing down to a duopoly between Reliance Jio and Airtel. The difference in market value of the two telcos is just too huge given the growth potential and the lack of competition. See also: <a href="https://www.businessinsider.in/business/telecom/news/india-is-changing-its-mobile-habits-and-that-can-help-airtel-and-vodafone/articleshow/75152973.cms">India is changing its mobile habits and that can help Airtel and Vodafone</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-signs-7636-crore-deal-with-nokia-to-enhance-4g-network-lay-foundation-for-5g-network/articleshow/75423000.cms">Airtel signs ₹7,636 crore deal with Nokia to enhance 4G network, lay foundation for 5G network</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-jio-stake-sale-to-silver-lake-boosts-ril-share-valuation/articleshow/75526873.cms">Reliance Jio’s valuation jumps more than half a billion dollars in just 12 days, thanks to Silver Lake</a>

Airtel shares set for a catch up rally after Reliance Jio takes a huge valuation lead

<ul><li>Now, the market value of <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>, at ₹4.9 lakh crore, is nearly twice the size of Airtel, whose market capitalisation is down to ₹2.4 lakh crore.</li><li>The latest blow came from competitor Jio's new post paid plans that offer a slew of added benefits.</li><li>Investors fear that competitive pressures on one hand from Jio and Vodafone Idea surviving on the other may hurt Airtel.</li></ul>Investors in Bharti Airtel had bet the Vodafone Idea may not survive for too long, and that the pressure of competitive tariffs from Reliance Jio is now in the past. Both bets seem to have come undone and shares of Airtel, India's second largest telecom service provider, have lost 25% of their value since the peak the stock hit in May 2020. Now, the market value of Reliance Jio, at ₹4.9 lakh crore, is nearly twice the size of Airtel, whose market capitalisation is down to ₹2.4 lakh crore. <div type="image" title="airtel share price sep 23" msid="78269455" hostid="261" caption="&amp;lt;p&amp;gt;Reliance Jio, at &amp;#8377;4.9 lakh crore, is nearly twice the size of Airtel, whose market capitalisation is down to &amp;#8377;2.4 lakh crore, after a 25% fall since the peak in May 2020.&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div> <div type="Article" hostid="261" msid="78257460" title="Jio's new postpaid plans offer unlimited calling, Netflix, Prime Video and Disney+ Hotstar subscription" mstype="2" mssubtype="0"></div> Now, as it stands, Reliance Jio, owned by Asia's richest man <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, is aspiring for a lot more than Airtel, which seems to be focussed on mobile services and broadband for now. “Similar to Alibaba or Tencent which created tech-based ecosystems in China, we find RIL best positioned to create a similar ecosystem in India. In the next two-three years, we expect RIL to have a captive mobile base of over 500 million users,” said a Bank of America report dated July 16. A factor that shareholders appear to have factored in but the analysts have not. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹672 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emkay Global </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹684 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹700 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Geojit BNP Paribas </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹645 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹700 </td></tr></tbody></table>Source: Economic Times The fear of tougher competition While Jio is potentially <a href="https://www.businessinsider.in/business/news/mukesh-ambani-owned-reliance-jio-compared-to-alibaba-and-tencent/articleshow/77059624.cms" data-type="tilCustomLink" target="_blank">shaping into Alibaba and Tencent rolled into one</a>, it has kept the heat alive in the mobile telephony space. After mopping up a big chunk of the mass market, mostly low-margin prepaid users, the Ambani firm is now targetting the high-spending post-paid consumers with new plans bundled with a free subscription to OTT platforms like Netflix, Amazon Prime Video, and Disney+ Hotstar. On the other hand, Vodafone Idea has rebranded itself into Vi, and may, reportedly, find investors in <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-may-need-up-to-18800-crore-in-next-two-years-and-tariff-hikes-to-survive-says-a-new-report/articleshow/77923943.cms">US tech giants Amazon and Verizon</a>. This could give the Birla Group company the cash it needs to survive for the next two years, according to the Jefferies report. Those backing Airtel had hoped that Vi will fall by the wayside and the market will be down to a duopoly that they share with Jio. Bharti Chairman Sunil Mittal <a href="https://www.businessinsider.in/business/telecom/news/airtel-wants-to-increase-data-prices-to-100-per-gb-sunil-mittal-asks-subscribers-to-prepare-to-pay-a-lot-more/articleshow/77734318.cms" data-type="tilCustomLink" target="_blank">had recently said that</a> a fair price for mobile data in India would be a ₹100 per gigabyte (GB), whereas the current price of ₹10 per GB, is a 'tragedy'. However, it wasn't meant to be. Far from it, Jio's latest salvo will now force Airtel to act and protect its post-paid user base. All these put together have shaved off 25% from Airtel's share value in a little over four months. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/yes-bank-ceo-prashant-kumar-clarifies-that-the-forensic-investigation-isnt-restricted-to-the-top-10-defaulters/articleshow/78255868.cms">EXCLUSIVE: YES Bank CEO Prashant Kumar clarifies that the forensic investigation isn't restricted to the top 10 defaulters</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/interview-cams-ceo-says-they-are-actively-hiring-through-the-pandemic/articleshow/78269110.cms">INTERVIEW: CAMS CEO says they are actively hiring through the pandemic</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/interview-cams-ceo-says-they-are-actively-hiring-through-the-pandemic/articleshow/78269110.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hindustan-unilever-chairman-is-urging-the-government-to-spend-more-to-boost-consumption/articleshow/78267444.cms">Data shows why HUL Chairman is urging the government to spend more to boost consumption</a>

Reliance Jio is now twice as valued as Airtel that is down 25% from its peak in May

New Delhi, Apr 15 () Telecom operator Bharti Airtel has surpassed HDFC to become the country's fifth most valued firm in terms of market valuation. At close of trade on Wednesday, Bharti Airtel's market capitalisation (m-cap) stood at Rs 2,78,206.15 crore, Rs 1,987.86 crore more than that of HDFC's valuation of Rs 2,76,218.29 crore on the BSE. Shares of Bharti Airtel had gained in the last two trades, but closed on a marginally lower note on Wednesday, down 0.35 per cent at Rs 509.95. Mortgage lender HDFC's shares fell 3.61 per cent to close at Rs 1,594.75. RIL is the country's most valued firm with a valuation of Rs 7,29,050.55 crore, followed by TCS (Rs 6,50,832.37 crore), HUL (Rs 5,38,992.08 crore), HDFC Bank (Rs 4,73,454.37 crore) and Bharti Airtel. The m-cap figure of companies changes daily with movement in their stock prices. SUM RVK

Bharti Airtel surpasses HDFC to become fifth most valued firm by m-cap  

Telecom operator <keyword id="19951944" type="General" weightage="20" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="261" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> on Tuesday posted a 31 per cent drop in consolidated profit to Rs 2,072 crore in the March quarter. The company had registered a profit of Rs 3,005.6 crore in the year-ago period. The consolidated revenue of operations increased 4.4 per cent to Rs 37,599.1 crore during the quarter under review from Rs 36,009 crore a year earlier. "Consolidated performance was impacted primarily by the devaluation of the Nigerian Naira. We added 7.8 million smartphone customers and delivered an industry leading <keyword id="20233536" type="General" weightage="20" keywordseo="ARPU" source="keywords">ARPU</keyword> of Rs 209," Bharti <keyword id="19896909" type="General" weightage="20" keywordseo="airtel" source="keywords">Airtel</keyword> Managing Director Gopal Vittal said. For the year ended March 31, 2024, Bharti Airtel's profit dropped 10.5 per cent to Rs 7,467 crore from Rs 8,346 crore in FY23. The annual revenue from operations of the company increased 7.7 per cent to Rs 1,49,982.4 crore during the reported fiscal from Rs 1,39,144.8 crore in 2022-23. For FY24, the Airtel board has recommended a final dividend of Rs 8 per fully paid-up equity share of face value of Rs 5 each and Rs 2 per partly paid-up equity share of face value of Rs 5 each. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/chatgpt-maker-openai-has-launched-gpt-4o-a-new-ai-voice-assistant/articleshow/110112039.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/chatgpt-maker-openai-has-launched-gpt-4o-a-new-ai-voice-assistant/articleshow/110112039.cms" target="_blank">ChatGPT maker OpenAI has launched GPT-4o, a new AI voice assistant</a><a href="https://www.businessinsider.in/tech/news/google-i/o-event-today-how-to-watch-and-what-to-expect/articleshow/110105611.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/google-i/o-event-today-how-to-watch-and-what-to-expect/articleshow/110105611.cms" target="_blank">Google I/O event today – how to watch and what to expect</a><a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank">OnePlus Nord CE 4 Lite to launch soon in India – expected price, specs and everything we know so far</a>

Bharti Airtel net profit tanks 31% to ₹2,072 cr in Q4

<ul><li><keyword id="6354287" type="General" weightage="20" keywordseo="Bharti-Airtel" source="Orion">Bharti Airtel</keyword>'s board on Sunday approved up to ₹21,000 crore rights issue, according to a <keyword id="525282" type="General" weightage="20" keywordseo="regulatory-filing" source="Orion">regulatory filing</keyword>.</li><li>The Board, which met to consider the company's capital raising plans, cleared rights issue price of ₹535 per fully paid-up equity share, including a premium of ₹530 per equity share.</li><li>The rights entitlement ratio entails 1 equity share for every 14 equity shares held by eligible <keyword id="6376563" type="General" weightage="20" keywordseo="shareholders" source="Orion">shareholders</keyword> as on the record date.</li></ul>Telecom operator Bharti <keyword id="15491" type="General" weightage="20" keywordseo="Airtel" source="Orion">Airtel</keyword>'s board on Sunday approved up to ₹21,000 crore rights issue, according to a regulatory filing. The Board, which met to consider the company's capital raising plans, cleared rights issue price of ₹535 per fully paid-up equity share, including a premium of ₹530 per equity share. In a BSE filing, Airtel said that the "board approved the issuance of equity shares of face value of ₹5 each of the company on rights basis to eligible <keyword id="1125632" type="General" weightage="20" keywordseo="equity-shareholders" source="Orion">equity shareholders</keyword> of the company as on the record date (to be notified later), of an issue size of up to ₹21,000 crores". The rights entitlement ratio entails 1 equity share for every 14 equity shares held by eligible shareholders as on the record date. The terms of payment of issue price, envisage 25 per cent on application and balance in two more additional calls as may be decided by the Board or committee of the Board based on the company's requirements within an overall time-horizon of 36 months, Airtel said. "The promoter and promoter group of the company would collectively subscribe to the full extent of their aggregate rights entitlement," it said adding "they will also subscribe to any unsubscribed shares in the issue". The board has constituted a 'Special Committee of Directors' to decide the other terms and conditions of the issue including issue period and the record date. The Board of Directors at the meeting reviewed the industry scenario, business environment, financial and business strategy of the company and approved the the plan to raise further capital, Airtel said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/uae-to-resume-issuing-tourist-visas-to-fully-vaccinated-travellers-from-monday/articleshow/85735979.cms">UAE to resume issuing tourist visas to fully vaccinated travellers from Monday</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/enterprise/enterprise-software/news/freshworks-files-for-an-ipo-in-the-us-looks-to-raise-100-million/articleshow/85707900.cms">Freshworks files for an IPO in the US, looks to raise $100 million</a>

Airtel’s board approves raising funds of up to ₹21,000 crore

New Delhi, Jan 15 () Bharti Airtel has announced allotment of 32.35 crore equity shares to eligible institutional buyers at an issue price of Rs 445 per share as part of USD 2 billion (over Rs 14,000 crore) qualified institutional placement that closed on Tuesday.
 The issue price was at a discount of 1.57 per cent to the stated floor price of Rs 452.09 per equity share.
 The company had embarked on a mega fund raising exercise, the proceeds of which will be used to pay the adjusted gross revenue (AGR) liability and invest in the network.
 Bharti Airtel has to pay nearly Rs 35,586 crore in additional statutory dues, after a Supreme Court ruling on AGR liabilities of telecom companies in October last year.
 Earlier this month, shareholders of Bharti Airtel had approved proposals to raise up to USD 2 billion (over Rs 14,000 crore) in equity and another USD 1 billion (around Rs 7,000 crore) in debt.
 Airtel has announced the closure of the issue period for the qualified institutional placement (QIP) and fixed the issue price at "Rs 445 per equity share which is at a discount of 1.57 per cent to the floor price of Rs 452.09 per equity share".
 As many as 32.35 crore equity shares are being allotted to eligible qualified institutional buyers, the company said in a regulatory filing. The special committee of directors for fund raising exercise also cleared the terms of foreign currency convertible bonds (FCCBs) including the issue price.
 "FCCBs due 2025, convertible into fully paid-up equity shares of face value of Rs 5 each of the company at a price of Rs 534 per conversion equity share to the initial purchasers subject to receipt of funds, satisfaction of other conditions precedent and settlement as per applicable laws and procedures and relevant agreements," the filing said. MBI ANS
ANS

Airtel special committee clears issue price, other modalities of USD 3 billion fund raising

Bharti <keyword id="15491" type="General" weightage="20" keywordseo="airtel" source="Orion">Airtel</keyword> on Thursday announced that it has acquired a strategic stake in Singapore-based Blockchain platform <keyword id="13145718" type="General" weightage="20" keywordseo="aqilliz" source="Orion">Aqilliz</keyword> for an undisclosed sum. Airtel aims to deploy Aqilliz's Blockchain technologies at scale across its fast growing adtech (Airtel Ads), digital entertainment (Wynk Music &amp; Airtel Xstream) and digital marketplace (Airtel Thanks App) offerings. "Blockchain technology is maturing and we see its application across areas such as Adtech, Creator Economy, and Loyalty Programmes," said Adarsh Nair, CEO, Airtel Digital. Aqilliz has developed a patented hybrid blockchain platform called ‘Atom' that integrates differential privacy and federated learning on a distributed digital ledger. This allows brands to create secure and consent-based solutions to engage with customers in a rapidly-evolving digital economy that's becoming increasingly decentralised. "Aqilliz's patented technology will enable Airtel to capture and carry this value exchange in the form of consent and provenance across the digital supply chain," said Gowthaman Ragothaman, Founding CEO, Aqilliz. The Airtel Startup Accelerator Programme invests in early-stage startups working on technologies that have adjacencies to Airtel's business offerings. The programme gives startups an opportunity to deploy their technologies and applications at a massive scale, which includes more than 340 million retail customers and over 1 million businesses. SEE ALSO <a href="https://www.businessinsider.in/politics/world/news/putin-announced-attacks-against-ukraine-on-thursday-in-the-same-suit-as-his-monday-speech-prompting-speculation-his-war-declaration-was-pre-taped/articleshow/89791864.cms" data-type="tilCustomLink">Putin announced attacks against Ukraine on Thursday in the same suit as his Monday speech, prompting speculation his war declaration was pre-taped</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/india-stock-market-down-sharply-as-russia-declares-war-on-ukraine/articleshow/89791440.cms">As Russia declares war on Ukraine, $103 billion wiped out from Indian markets in the first hour of trade</a> <a href="https://www.businessinsider.in/stock-market/news/adani-wilmar-shares-surge-as-russia-declares-war-on-ukraine/articleshow/89789984.cms" data-type="tilCustomLink">Adani Wilmar shares surge as Russia declares war on Ukraine, threatening India’s sunflower oil imports</a>

Airtel acquires strategic stake in Blockchain-tech startup Aqilliz

With an aim to build the world's largest customer data platform (CDP), Bharti <keyword id="15491" type="General" weightage="100" keywordseo="airtel" source="Orion">Airtel</keyword> on Tuesday said it has acquired a strategic stake in Lemnisk (Immensitas Private Limited) under its 'Start Up Accelerator Programme for an undisclosed sum. Bengaluru-based Lemnisk offers real-time marketing automation and secure CDP, capable of providing 1-to-1 personalisation and cross-channel customer journeys at a scale that increases conversions, retention, and growth for enterprises. "Lemnisk's real-time marketing automation engine is a natural fit for us, where over 350 million customers interact with brands daily through multiple touch points," said Adarsh Nair, CEO of Airtel <keyword id="50691" type="General" weightage="50" keywordseo="digital" source="Orion">Digital</keyword>. They will work together to build the world's largest CDP platform across Airtel's digital businesses including ad tech (Airtel Ads), digital entertainment (Wynk Music and Airtel Xstream) and digital marketplace (Airtel Thanks App). In future, Airtel plans to offer this service to its enterprise customers through Airtel IQ, which is the network-integrated <keyword id="1057264" type="General" weightage="50" keywordseo="cloud-platform" source="Orion">Cloud Platform</keyword> as a Service (CPaaS). The platform will offer enterprises an opportunity to create a nimble, scalable, and omnichannel engagement for its customers said the company. "Airtel's ambition aligns with our vision to offer a single frictionless platform to super large enterprises that both organizes and activates high volume and high-velocity data. We are looking forward to achieving great things together," said <keyword id="3065193" type="General" weightage="50" keywordseo="subra-krishnan" source="Orion">Subra Krishnan</keyword>, Co-founder and CEO of Lemnisk. The Airtel Startup Accelerator Programme invests in early-stage startups working on technologies that add strategic value to Airtel's business offerings. The programme gives startups the opportunity to deploy their technologies and applications at a massive scale, which includes more than 350 million retail customers and over one million businesses. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/delhivery-acquires-pune-based-algorhythm-tech-to-strengthen-its-supply-chain/articleshow/96365598.cms">Delhivery acquires Pune-based Algorhythm Tech to strengthen its supply chain</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indigo-tops-with-55-7-market-share-vistara-2nd-air-india-3rd-in-nov/articleshow/96368698.cms">Indigo tops with 55.7% market share, Vistara 2nd, Air India 3rd in Nov</a>

Airtel acquires strategic stake in Lemnisk to build largest customer data platform

New Delhi, Jan 15 () Bharti Airtel has raised USD 3 billion through QIP and FCCB route, completing a massive fund raising exercise for the firm, which has to pay billions of dollars in statutory dues.
Post the USD 2 billion Qualified Institutional Placement (QIP) issue, the holding of promoter and promoter group will come down to 58.98 per cent as against 62.70 per cent, Bharti Airtel said in a statement.
"The company...will issue 32,35,95,505 equity shares of face value of Rs 5 per equity share at a price of Rs 445 which implies a discount of 1.57 per cent on the SEBI (Securities and Exchange Board of India) determined floor price of Rs 452.09 per equity share," the statement said.
The offer saw participation by marquee global and Indian investors, it added.
The transaction is the largest ever dual tranche equity and FCCB offering in Asia Pacific, largest QIP ever by a private sector issuer in India, and largest FCCB offering from an India issuer in the last 12 years, the company added.
Bharti Airtel, Vodafone Idea and other telcos owe the government nearly Rs 1.47 lakh crore in past statutory dues. These liabilities arose after the Supreme Court in October last year upheld the government's position on including revenue from non-core businesses for calculating the annual AGR (Adjusted Gross Revenue) of telecom companies, a share of which is paid as licence and spectrum fees to the exchequer.
The statutory liabilities in the case of Bharti Airtel adds up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is spectrum dues (excluding the dues of Telenor and Tata Teleservices).
Earlier this month, shareholders of Bharti Airtel had approved proposals to raise up to USD 2 billion (over Rs 14,000 crore) in equity and another USD 1 billion (around Rs 7,000 crore) in debt.
In a statement on Wednesday, Airtel said it has "raised USD 2 billion through the QIP route and USD 1 billion through FCCBs". The participation was by diversified investor base, which includes global long only funds, sovereign wealth funds, domestic mutual funds, multi-strategy funds and insurance companies in sizable quantities, it added.
Long only investors comprised 80 per cent of the demand for the QIP.
The company said the FCCB offering was multiple times oversubscribed with very strong demand from Asian and European funds.
"The FCCB was priced at a coupon of 1.5 per cent per annum, yield-to-maturity of 2 per cent per annum and a conversion premium of 20 per cent above the final QIP price of Rs 445," it said.
Harjeet Kohli, Group Director of Bharti Enterprises, said the offering witnessed a strong response from the global and domestic investor community, despite a volatile market environment and challenging global macro-economic conditions.
"This underlines Airtel's growth oriented financial performance and future growth potential of our business and the sector. We are delighted with the participation and continuing support of high quality investors thereby ensuring further diversification of the shareholder base of Bharti Airtel."
Airtel said that the proceeds of the fund will be used for augmenting the company's long term resources and strengthening the balance sheet, servicing and repayment of short term and long term debts, towards statutory dues, and long term working capital requirements.
Airtel shares closed at Rs 467.10 apiece on Wednesday, 0.50 per cent lower than the previous closing. MBI MBI BAL
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