Bharti Airtel approved a preferential share issuance to promoter-group entity Indian Continent Investment (ICIL) as part of a share-swap transaction aimed at increasing its stake in Airtel Africa. Under the deal, Bharti Airtel will issue up to 146.76 million equity shares to ICIL at Rs 1,923 apiece, aggregating to about Rs 28,220 crore. In return, ICIL will transfer up to 16.31% stake, or 595.2 million shares, in Airtel Africa plc to Bharti Airtel. Following the transaction, Bharti Airtel’s holding in Airtel Africa is expected to rise from 62.73% to about 79.04%. ICIL, which currently holds about 0.92% stake in Bharti Airtel following a block deal in November 2025, is likely to see its shareholding rise to around 3.3% after the allotment.