Bharti Airtel announced a new corporate structure to sharpen its focus on evolving digital opportunity in India while enabling it to unlock value.
The new structure will fold Airtel Digital Limited into the listed entity, Bharti Airtel, the company said in a statement.
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.
“The new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses – Digital, India, International and Infrastructure, each, in a razor sharp way,” said Sunil Bharti Mittal, Chairman, Bharti Airtel.
“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.”
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 NDCP 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, the company said.
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.