The London Stock Exchange saw Airtel Money (AMC) go public on Oct 9, raising £529 million on 270 million pre‑existing shares, valuing the business at £5.3 billion.
The shares opened 2.1% above the offer price of £1.96, before slipping 1% to trade at £1.95 at close.
The IPO marks the largest listing on the LSE in five years, eclipsing the 2021 telecom IPOs that averaged £1.2 billion and surpassing Airtel Africa's 2019 London listing of $2.7 billion.
Airtel Money processed $213 billion in transactions in the 12 months to June and logged 53 million monthly active users, according to the company's filing.
Founder Sunil Bharti Mittal said the listing signals confidence in the UK as a hub for long‑term investors, noting the oversubscription reflects appetite for high‑quality assets.
Conditional deals began on Oct 9; full admission to trading is scheduled for Oct 14. Analysts will watch the first quarterly results for a clearer picture of profitability.