Bharti Airtel - Restructuring Aimed At Digital Business, AGR-Tax Efficiency: ICICI Securities
A vendor arranges Bharti Airtel Ltd. SIM card packets at a stall in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Bharti Airtel - Restructuring Aimed At Digital Business, AGR-Tax Efficiency: ICICI Securities

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ICICI Securities Report

Bharti Airtel Ltd. has announced a new corporate structure wherein digital assets, and infrastructure assets (fiber and tower [via Nettle Infrastructure]) will be pushed up into the parent entity, and telecom business will be pushed down to the wholly-owned subsidiary.

The new structure is aimed at -

  1. bringing all digital assets under one entity and focusing on growing it fast; and
  2. by pushing telecom business at bottom, it will make the entire organisation adjusted gross revenue-tax efficient.

Clearly, the new structure indicates no immediate monetisation plans of digital assets, and rightfully so, as it is yet to exploit the potential from the business.

Click on the attachment to read the full report:

ICICI Securities Bharti Airtel Company Update.pdf

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