Bharti Airtel Limited secured overwhelming shareholder approval for its proposal to consolidate its stake in Airtel Africa plc through a share swap with Indian Continent Investment Limited (ICIL). The Extraordinary General Meeting (EGM) held on June 12, 2026, saw 99.9875% of votes cast in favour of the resolution, which involves issuing equity shares on a preferential basis to the promoter group entity in exchange for its 16.31% holding in the subsidiary. This cashless transaction will increase Bharti Airtel's effective stake in Airtel Africa to approximately 79%, enhancing economic interest without incremental leverage.

The proposal received strong backing from public and institutional investors, with 5,644,164,474 votes assenting and only 707,490 dissenting. Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises, highlighted that the transaction preserves capital strength for core operations while simplifying the group's shareholding structure. The EGM was conducted via video conferencing, with remote e-voting open from June 8, 2026, to June 11, 2026.

Voting Breakdown

The resolution was passed as a special resolution with a high participation rate across shareholder categories. Promoter and Promoter Group cast 2,978,329,531 votes, all in favour. Public Institutions and Non-Institutions also showed significant support, with 99.97% and 99.97% assent respectively.

Statutory Oversight

Mr. Rohit Krishan Puri, Company Secretary & Compliance Officer, submitted the outcome to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Harish Chawla, Partner of CL & Associates, served as the Scrutinizer for the meeting. Representatives from Deloitte Haskins & Sells LLP, the Statutory Auditors, and Makarand M. Joshi & Co, the Secretarial Auditors, were present to oversee the proceedings. The transaction remains subject to receipt of all requisite regulatory approvals.

Bharti Airtel has deployed over 2900 new 5G sites across the Upper North region in the past 12 months, significantly boosting high-speed connectivity for over 28.6 million customers. The expansion spans 77 districts across Punjab, Haryana, Himachal Pradesh, and Jammu & Kashmir, aiming to bridge connectivity gaps and power the region's digital transformation. This network densification strategy ensures faster speeds, wider coverage, and a superior experience for users ranging from urban centers to remote rural villages.

5G Network Expansion Across Upper North

The rollout of more than 2900 new 5G sites marks a major step in Bharti Airtel's infrastructure development. The company activated more than eight new sites daily to meet the surging data demand in the region. This initiative delivers seamless streaming, rapid downloads, and dependable digital payments to citizens, students, micro-entrepreneurs, and government institutions.

The following table summarises the key details of the 5G network expansion:

Regional Breakdown of New Sites

The deployment includes specific site additions across the four key states and union territories:

• Punjab: 1,066+ new sites
• Haryana: 954+ new sites
• Himachal Pradesh: 276+ new sites
• Jammu & Kashmir: 619+ new sites

Anupam Arora, CEO – Upper North, Bharti Airtel, stated that the continued investments underscore the company's commitment to providing a future-ready network and staying ahead of the surging data demand in the region.