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In a letter to the National Stock Exchange, <keyword id="6354287" type="CITY" weightage="20" keywordseo="Bharti-Airtel">Bharti Airtel</keyword> has announced that financial services industry veteran and one of the independent directors of the company, <keyword id="272759" type="PERSON" weightage="20" keywordseo="Ajay-Lal">Ajay Lal</keyword>, has retired from the company’s Board of Directors. Lal, who joined Bharti Airtel’s Board on January 23, 2006, retired on January 22, 2015. 
	 
	“Bharti Airtel Limited has informed the Exchange that in line with Company's policy on Independent Directors and the shareholders' resolution dated September 01, 2014, Ajay Lal, Independent Director, will retire from the Board effective January 22, 2015, after completing nine years. 
	 Lal was an independent non-executive director of the company. Currently, he is the senior partner and managing director of premier private equity firm, <keyword id="221962" type="COMPANY" weightage="20" keywordseo="AIF-Capital">AIF Capital</keyword> India. Lal has an expertise in private equity, project finance and corporate banking. Lal’s previous work experiences include his stint with AIG Investment Corporation and Bank of America. 
	 
	Image Credit: Official Website of Bharti Airtel

Financial Services Expert Ajay Lal Retires From
Bharti Airtel’s Board

<ul><li><keyword id="6354287" type="DOMAIN" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword>, one of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>’s leading telecom operators, was looking to launch the IPO of its African unit, <keyword id="363206" type="COMPANY" weightage="20" keywordseo="Airtel-Africa">Airtel Africa</keyword> </li><li>In the process of claiming its stake in <keyword id="15491" type="DOMAIN" weightage="20" keywordseo="Airtel">Airtel</keyword>’s unit, Government of <keyword id="89578" type="LOCATION" weightage="20" keywordseo="Tanzania">Tanzania</keyword> has disapproved Airtel’s Africa IPO. </li><li>The Tanzanian government accused Airtel Africa for not involving the treasury in the process of launching its IPO. </li><li>Although Bharti Airtel has the control of its unit in Tanzania, the ruling body still wanted IPO to be treated as a joint venture. </li></ul>All the ‘<a href="https://economictimes.indiatimes.com/markets/ipos/fpos/airtel-africa-says-ipo-plans-on-track/articleshow/66416175.cms">plans and preparation</a>’ of Airtel’s Africa IPO by one of India’s largest telecom operators, Bharti Airtel Limited might be in vain since Tanzanian Government has <a href="https://www.livemint.com/Companies/KACRvJFxH1TPCP7Cc9K6iL/Tanzanian-government-disapproves-of-Airtel-Africa-IPO.html">declined</a> to accept the proposed IPO by the company. The Government of Tanzania — in a letter originally written in Swahili — have objected to any affiliate consultations of Airtel Tanzania without keeping the government in the loop. It owns 40% stake in Airtel Tanzania, while the Bharti Airtel has majority stake with 60% ownership. Despite the parent company possessing the control over the unit, the ruling body wanted the IPO procedure to be treated as joint venture. So, the fate of the negotiation depends on additional clarification between Bharti Airtel and the Tanzanian government. The development will have a direct impact on the Airtel Africa IPO which claimed to be on track earlier this week. The parent company Bharti Airtel is already struggling to pay a debt of $5 billion (₹363.5 billion) owing to <a href="https://www.businessinsider.in/upto-75000-more-jobs-at-stake-as-competition-intensifies-among-indian-telcos-report/articleshow/66342892.cms">the ongoing price war</a> in Indian telecom industry invoked by Mukesh Ambani’s Jio in 2017. The new development is probably going to instigate new struggles for Bharti Airtel, which was yet to disclose the the date of Airtel Africa IPO. Tanzanian Government and Bharti Airtel had being going through a turmoil since 2017 ever since the governing body introduced a modus operandi to look into Airtel’s agreement to buy Kuwaiti telecom firm, Zain in Tanzania.

One of India’s largest telecom provider is trying to launch its IPO in Tanzania — But Tanzanian Government disapproves

New Delhi, Jan 23 () Bharti Airtel Chief Regulatory Officer Ravi Gandhi has resigned to pursue career outside the company, according to industry sources. 
The development comes at a time when Bharti Airtel is embroiled in a legal battle in adjusted gross revenue case and several other cases pending in various courts that can have financial implications on the telecom company. 
"Ravi Gandhi has resigned from Bharti Airtel and will continue to work with the company till March. He has expressed interest to pursue career outside the company," a person privy to the development said.
When contacted, a Bharti Airtel spokesperson confirmed the development.
Gandhi in his around 12-year stint in the firm has represented Bharti Airtel in several important cases which includes interconnection usage charges, various mergers and acquisitions, increasing foreign direct investment limit in the company to 100 per cent etc. 
According to another source, Gandhi is likely to join a non-telecom company. PRS MR
MR

Bharti Airtel regulatory head Ravi Gandhi quits

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

New Delhi, May 26 () Shares of Bharti Airtel on Tuesday fell nearly 6 per cent after promoter firm Bharti Telecom sold 2.75 per cent stake in Airtel to institutional investors in the secondary market. It dropped 5.71 per cent to close at Rs 559.15 on the BSE. During the day, it tumbled 5.96 per cent to Rs 557.65. On the National Stock Exchange (NSE), shares of the company fell 5.72 per cent to close at Rs 559.25. Bharti Airtel was the top loser in the Sensex and Nifty pack. Promoter firm Bharti Telecom has sold 2.75 per cent stake in Airtel to institutional investors in the secondary market, raising over Rs 8,433 crore, the company said on Tuesday. The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding company a 'debt-free company', it said. Bharti Group and Singtel will continue to hold a majority stake in Bharti Airtel at 56.23 per cent after the transaction, it added. Announcing the closure of secondary block placement of Airtel shares, Bharti Telecom said the issue oversubscribed multiple times with healthy mix of all categories of investors, long only and hedge fund investors across geographies in India, Asia, Europe and the US. "Bharti Telecom Limited, the promoter company of Bharti Airtel Limited have today sold 2.75 per cent stake in Bharti Airtel to institutional investors through an accelerated book building process in the secondary market," it said. SUM HRS

Bharti Airtel shares fall nearly 6 pc

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  

New Delhi, Jan 29 () Airtel Payments Bank has raised close to Rs 225 crore from Bharti Airtel and Bharti Enterprises, as per regulatory documents.
 While Bharti Airtel has infused Rs 180.22 crore into Airtel Payments Bank, Bharti Enterprises has injected Rs 44.77 crore.
 The investments, which add up to Rs 225 crore, have been made in the form of preference shares, documents sourced by business intelligence platform Tofler showed.
 An e-mail sent to Bharti Airtel did not elicit a response. MBI MSS ABM
ABM

Airtel Payments Bank raises Rs 225 cr from Bharti Airtel, Bharti Enterprises

New Delhi: Nine of the top-10 most valued firms together added Rs 2,01,552.69 crore in market valuation last week, with <keyword id="19951944" type="General" weightage="100" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="153" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> stealing the show, amid bullish investors' sentiment in equities. Last week, the BSE benchmark jumped 1,707.01 points or 2.10 per cent. The 30-share BSE Sensex hit its lifetime high of 83,116.19 on Thursday. Bharti Airtel's valuation jumped Rs 54,282.62 crore to Rs 9,30,490.20 crore, becoming the biggest gainer among the top-10 firms. The market capitalisation (mcap) of <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="153" meta.entityid="ICICI Bank">ICICI Bank</keyword> surged Rs 29,662.44 crore to Rs 8,80,867.09 crore. <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="153" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS) added Rs 23,427.12 crore taking its valuation to Rs 16,36,189.63 crore. The mcap of Hindustan Unilever soared Rs 22,438.6 crore to Rs 6,89,358.33 crore and that of <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="153" meta.entityid="HDFC Bank">HDFC Bank</keyword> zoomed Rs 22,093.99 crore to Rs 12,70,035.77 crore. The market valuation of Infosys climbed Rs 17,480.49 crore to Rs 8,07,299.55 crore and that of ITC rallied Rs 15,194.17 crore to Rs 6,42,531.82 crore. The valuation of <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="153" meta.entityid="Reliance Industries">Reliance Industries</keyword> jumped Rs 9,878.19 crore to Rs 19,92,160.61 crore and that of State Bank of India went up by Rs 7,095.07 crore to Rs 7,05,535.20 crore. However, the mcap of Life Insurance Corporation of India (LIC) declined by Rs 3,004.38 crore to Rs 6,54,004.76 crore. Reliance Industries was leading the chart of the top-10 most valued firms followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, LIC and ITC.

Mcap of nine of top-10 most valued firms jump Rs 2 lakh crore, Bharti Airtel leads the surge

New Delhi, Feb 4 () Telecom operator Bharti Airtel on Tuesday posted a consolidated loss of Rs 1,035 crore for the third quarter ended December 31, 2019.
The company had recorded a profit of Rs 86 crore a year ago.
The company's revenue, however, increased by 8.5 per cent to Rs 21,947 crore for December quarter compared to Rs 20,231 crore in the same period last year.
"While tariff revision undertaken in December 2019 is a welcome step towards repairing the financial health of the industry, we believe tariffs must go up further for enabling the industry to invest in emerging technologies," Gopal Vittal, MD and CEO, India &amp; South Asia, Bharti Airtel said in a statement.
Bharti Airtel India revenue rose seven per cent to 15,797 crore, compared to the same period of 2018-19.
For the second quarter ended September 2019, Bharti Airtel had posted its highest ever net loss of 23,045 crore after provisioning of Rs 28,450 crore on account of the Supreme Court ruling on statutory dues. PRS MBI 
 PRS BAL
BAL

Bharti Airtel posts Rs 1,035 cr loss in Q3 FY20

New Delhi: Telecom operator <keyword id="6354287" type="COMPANY" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword> has removed cap from free outgoing calls on other networks under its new plans for pre-paid customers that came into effect from December 3. The company had earlier capped outgoing calls to network of other telecom operator to 1,000 minutes in case of plans with 28 days validity, 3,000 in 84 days validity plans and 12,000 in 365 days validity plan. Beyond this limit, customers were required to pay 6 paisa per minute for outgoing calls. "From tomorrow, enjoy unlimited calling to any network in India with all our unlimited plans. No conditions apply," Bharti <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> said in a tweet on Friday. The company on December 1 announced new plans under which call and data charges became dearer for its pre-paid customers by up to 50 per cent from December 3. The company had announced new plans in "unlimited"category with 2 days, 28 days, 84 days, 365 days validity which on the back of the envelope calculations showed higher price of up to 50 per cent Bharti Airtel increased its entry level unlimited plan with a year long validity by about 50 per cent to Rs 1,499, with 24 GB of data, in place of Rs 998 plan which comes with 12 GB data usage limit. The price of 365-days validity plan in the same category with daily data usage limit of 1.5 GB per day now costs 41.2 per cent more at Rs 2,398. The company also announced three new plans - Rs 219 with 28 days validity offering 1 GB per day, Rs 399 and Rs 449 plan with 56 days validity each, offering 1.5 Gb and 2 GB data usage, respectively. With the removal of limit, Airtel's new 399 plans with 56 days validity becomes cheaper than that of Reliance <keyword id="2003276" type="COMPANY" weightage="20" keywordseo="Jio">Jio</keyword> plan at same price. The move from both the companies follows Supreme Court judgement on adjusted gross revenue. Bharti Airtel has posted a staggering Rs 23,045 crore net loss for the second quarter ended September 30, due to provisioning of Rs 28,450 crore in the aftermath of the Supreme Court ruling on statutory dues. According to government data, the liabilities in the case of Bharti Airtel add up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is the SUC dues (excluding the dues of Telenor and Tata Teleservices). The government is currently not considering any proposal on waiver of penalties and interest on outstanding licence fee based on adjusted gross revenue (AGR), or on extending the timelines for telecom companies to pay up their statutory dues. PRS BAL

Airtel's new 399 plans with 56 days validity becomes cheaper than that of Reliance Jio plan at same price

New Delhi, Jan 22 () Telecom major Bharti Airtel has partnered with money transfer firm Western Union, wherein the former's payments bank customers can receive international remittances into their accounts, says a joint statement of the companies. 
The agreement is only for receiving money in Airtel Payments Bank account in India and Airtel Money account in 14 African countries from Western Union. 
"Collaborating with Western Union on these two flagship initiatives in both India and Africa reflects Bharti Airtel's keen commitment to transform the quality of lives of millions of people across emerging and developing markets. We are delighted to contribute to the development of a sound and inclusive payments ecosystem in emerging markets to spur financial inclusion and economic growth," Bharti Airtel Chairman Sunil Bharti Mittal said.
The partnership will enable Airtel Payments Bank customer to withdraw money from its authorised 5 lakh outlets.
A Bharti Airtel official said that the service to withdraw money received through Western Union is operational at around 1 lakh outlets in India and it will become available across the country in the next few days. 
As of September 30, 2019, Western Union money transfer included over 550,000 retail agent locations offering services in more than 200 countries and territories. PRS MKJ

You Searched For "bharti airtel" and got 11 results

Financial Services Expert Ajay Lal Retires From Bharti Airtel’s Board

Purba Das

One of India’s largest telecom provider is trying to launch its IPO in Tanzania — But Tanzanian Government disapproves

BI India Bureau