Kolkata: Shares of Bharti Airtel<\/a> hit a near 3% intra-day high Monday after Chairman Sunil Mittal<\/a> outlined plans for a big digital play in parallel to its telecom business, and future monetization possibilities. Bharti Airtel股价周一触及近3%盘中高点后董事长苏尼尔•米塔尔提出一个大数字在平行于其电信业务,和未来盈利的可能性。 加尔各答:股票Bharti Airtel周一触及近3%盘中高点后主席苏尼尔•米塔尔提出一个大数字在平行于其电信业务,和未来盈利的可能性。 Kolkata: Shares of Bharti Airtel<\/a> hit a near 3% intra-day high Monday after Chairman Sunil Mittal<\/a> outlined plans for a big digital play in parallel to its telecom business, and future monetization possibilities.
Analysts and industry<\/a> executives said the move could help Bharti Airtel attract top dollars from global technology companies and private equity firms, who may be more comfortable injecting capital into the growing digital operations since its revenue, unlike the connectivity business, would be ring-fenced from all statutory payouts linked to adjusted gross revenue (AGR) such as licence fees and spectrum usage charges (SUC).
They, though, added that the valuation of a standalone Airtel Digital<\/a> entity would hinge on the pace at which Bharti Airtel ramps up digital services revenues over the next couple of years.
Mittal told ET in an interview that Bharti Airtel, which has housed all its digital assets under Airtel Digital unit, is discussing making it a parallel entity to the telco. He added that the new structure could remove telecom regulatory overhang over Airtel Digital, which could be listed in two-three years.
The Airtel shares closed 1.2% higher at Rs 593.80 on BSE, in line with a positive broader market.
“Airtel’s plans to separate its digital businesses could help it attract sizeable equity infusions from global tech players and PE firms who may be enthusiastic to participate in growing the telco’s digital products\/services pipeline instead of the more risky and capex-intensive connectivity business that is also exposed to sizeable AGR-related statutory payouts,” a senior analyst at a leading European brokerage told ET.
Revenue streams from Airtel’s digital services, he said, could be more stable, and hence more attractive to global tech investors to bet on.
Another analyst, though, said any serious monetisation opportunities for Airtel Digital would emerge only after Bharti Airtel is able to allocate sizeable revenue to its digital services businesses, which would take at least a few years.
Mittal told ET that the planned reorganisation would take several months and investments in the digital business would be sought after it is scaled up. The combined digital service revenues of Airtel, which is currently at Rs 100 crore, is proposed to be scaled up to Rs 1,000 crore in a few years. Airtel’s board meets on February 17 to consider restructuring of its businesses.
<\/p>Read also<\/h4>
![](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
<\/a><\/figure>‘Being No. 1 in the minds of customers is most important, non-negotiable': Airtel Chairman Sunil Mittal<\/a><\/h5><\/div>
<\/a><\/figure>Bharti looks to make Digital unit a parallel company to Airtel<\/a><\/h5><\/div><\/div><\/div>
Airtel Digital houses the telco’s digital properties including Wynk Music, Thanks, Xstream, payments, and products such as Airtel IQ, Safe Pay, among others, and employs over 1,500 people, which is being scaled up rapidly.
Nitin Soni, senior director at global ratings agency, Fitch, declined to hazard a guess on the kind of valuations Airtel Digital could command in the near-to-medium term, but said “any move to separate the digital services businesses would generate some cost savings for Airtel as there would be no regulatory payouts overhang”.
“Faster the digital services revenue ramp-up, the higher the potential valuations Airtel Digital will be able to command,” said the first analyst cited.
Airtel’s chief executive Gopal Vittal recently said that the telco has over 190 million monthly active users (MAU) across its digital assets. Wynk, he said, is now the Number 1 music App, with a MAU base of 67 million users while Airtel X Stream is up to 40 million MAU and Airtel Thanks too was becoming more ubiquitous.
“This scale is critical for us to meet our ambition of realising significant revenues from digital services,” Vittal had told analysts at a recent earnings call after the telco reported Rs 854 crore net profit in the December quarter, returning to the black after six straight quarters of losses, backed by strong data user additions.
Airtel’s upcoming reorganisation move comes at a time when Jio Platforms – that houses the digital and telecom assets of Mukesh Ambani-led Reliance Industries -- last year raised more than Rs 1.52 lakh-crore by selling stakes upto nearly 33% to 13 investors, including Facebook, Google, Qualcomm and Intel Corp.
A senior industry executive, though, said the potential valuations that a standalone Airtel Digital would command “may not be comparable with Jio Platforms,” as the latter houses both the digital and telecom assets as a direct unit of RIL.
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Airtel股价上涨近3%,此前米塔尔说,数字资产上市的计划还在进行中到一个单独的实体
分析师和行业高管表示,此举可以帮助Bharti Airtel吸引顶尖美元全球科技公司和私人股本公司,他可能更舒适的注入资本日益增长的数字业务收入以来,与连接业务,将限定所有法定支出与调整后的总收益(AGR)许可证费用和光谱等使用费用(往下)。
米塔尔告诉ET在接受采访时说,Bharti Airtel,已收藏所有的数字资产Airtel数字单位,正在讨论电信这一个平行的实体。他补充说,新结构可以删除电信监管过剩Airtel数字,可在2 - 3年内上市。
Airtel公司股价上涨1.2%,至593.80卢比的疯牛病,本着积极的更广泛的市场。
“Airtel单独的数字业务的计划可以帮助它吸引大量来自全球科技球员和PE公司股本注资热情可能参与越来越多的电信的数码产品/服务管道,而不是更多的风险和capex-intensive连接业务也受到相当大的AGR-related法定支出,”一位高级欧洲主要券商的分析师告诉等。
收入来源从Airtel的数字服务,他说,可能更稳定,因此对全球科技投资者押注更具吸引力。
不过,另一位分析师说,任何严肃的货币化机会Airtel数字之后才会出现Bharti Airtel能够分配数字服务企业可观的收入,这至少需要几年。
米塔尔告诉ET,重组计划将需要几个月的时间和投资后的数字业务将寻求扩大。Airtel的综合数字服务收入,目前在100卢比,提出扩大到1000卢比在几年。Airtel董事会会议将于2月17日考虑的业务重组。
Airtel数字房屋电信的数字属性包括Wynk音乐,谢谢,Xstream,支付,和产品,如Airtel智商,安全支付,其中,并雇佣了1500人,目前正在迅速扩大。
高级主管Nitin索尼全球评级机构惠誉,拒绝冒险猜测的估值Airtel数字可以命令在近,但表示“任何单独的数字服务企业将产生一些成本节约Airtel就没有监管支出过剩”。
“更快的数字服务收入过渡,潜在估值越高Airtel数字能够命令,“第一个分析师援引说。
Airtel首席执行官Gopal Vittal最近表示,电信每月有超过1.9亿活跃用户(猫)在其数字资产。Wynk,他说,现在是1号音乐应用,与毛的6700万用户基础而Airtel X流是4000万猫和Airtel谢谢也越来越无处不在。
”这种规模是至关重要的对我们满足我们的野心实现显著的收入数字服务,“Vittal告诉分析师在最近的一次财报电话会议后,电信12月季度净利854卢比,回到黑连续六个季度的亏损后,强大的数据支持的用户添加。
Airtel即将到来的重组行动正值Jio平台的数字和电信资产——房子穆克什Ambani-led信实工业——去年通过出售股份筹集了超过1.52 Rs lakh-crore 13投资者高达近33%,其中包括Facebook、谷歌、高通和英特尔(intc . o:行情)。
不过,行业高管表示,潜在的估值,一个独立的Airtel数字将命令”不可能比得上Jio平台,“因为后者房屋数字和电信资产直接瑞来斯的单位。
Analysts and industry<\/a> executives said the move could help Bharti Airtel attract top dollars from global technology companies and private equity firms, who may be more comfortable injecting capital into the growing digital operations since its revenue, unlike the connectivity business, would be ring-fenced from all statutory payouts linked to adjusted gross revenue (AGR) such as licence fees and spectrum usage charges (SUC).
They, though, added that the valuation of a standalone Airtel Digital<\/a> entity would hinge on the pace at which Bharti Airtel ramps up digital services revenues over the next couple of years.
Mittal told ET in an interview that Bharti Airtel, which has housed all its digital assets under Airtel Digital unit, is discussing making it a parallel entity to the telco. He added that the new structure could remove telecom regulatory overhang over Airtel Digital, which could be listed in two-three years.
The Airtel shares closed 1.2% higher at Rs 593.80 on BSE, in line with a positive broader market.
“Airtel’s plans to separate its digital businesses could help it attract sizeable equity infusions from global tech players and PE firms who may be enthusiastic to participate in growing the telco’s digital products\/services pipeline instead of the more risky and capex-intensive connectivity business that is also exposed to sizeable AGR-related statutory payouts,” a senior analyst at a leading European brokerage told ET.
Revenue streams from Airtel’s digital services, he said, could be more stable, and hence more attractive to global tech investors to bet on.
Another analyst, though, said any serious monetisation opportunities for Airtel Digital would emerge only after Bharti Airtel is able to allocate sizeable revenue to its digital services businesses, which would take at least a few years.
Mittal told ET that the planned reorganisation would take several months and investments in the digital business would be sought after it is scaled up. The combined digital service revenues of Airtel, which is currently at Rs 100 crore, is proposed to be scaled up to Rs 1,000 crore in a few years. Airtel’s board meets on February 17 to consider restructuring of its businesses.
<\/p>Read also<\/h4>
<\/a><\/figure>‘Being No. 1 in the minds of customers is most important, non-negotiable': Airtel Chairman Sunil Mittal<\/a><\/h5><\/div>
<\/a><\/figure>Bharti looks to make Digital unit a parallel company to Airtel<\/a><\/h5><\/div><\/div><\/div>
Airtel Digital houses the telco’s digital properties including Wynk Music, Thanks, Xstream, payments, and products such as Airtel IQ, Safe Pay, among others, and employs over 1,500 people, which is being scaled up rapidly.
Nitin Soni, senior director at global ratings agency, Fitch, declined to hazard a guess on the kind of valuations Airtel Digital could command in the near-to-medium term, but said “any move to separate the digital services businesses would generate some cost savings for Airtel as there would be no regulatory payouts overhang”.
“Faster the digital services revenue ramp-up, the higher the potential valuations Airtel Digital will be able to command,” said the first analyst cited.
Airtel’s chief executive Gopal Vittal recently said that the telco has over 190 million monthly active users (MAU) across its digital assets. Wynk, he said, is now the Number 1 music App, with a MAU base of 67 million users while Airtel X Stream is up to 40 million MAU and Airtel Thanks too was becoming more ubiquitous.
“This scale is critical for us to meet our ambition of realising significant revenues from digital services,” Vittal had told analysts at a recent earnings call after the telco reported Rs 854 crore net profit in the December quarter, returning to the black after six straight quarters of losses, backed by strong data user additions.
Airtel’s upcoming reorganisation move comes at a time when Jio Platforms – that houses the digital and telecom assets of Mukesh Ambani-led Reliance Industries -- last year raised more than Rs 1.52 lakh-crore by selling stakes upto nearly 33% to 13 investors, including Facebook, Google, Qualcomm and Intel Corp.
A senior industry executive, though, said the potential valuations that a standalone Airtel Digital would command “may not be comparable with Jio Platforms,” as the latter houses both the digital and telecom assets as a direct unit of RIL.
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