Jump to content

Bharti Enterprises

From Wikipedia, the free encyclopedia
(Redirected from Bharti Group)
Not to be confused with its subsidiary Bharti Airtel.

Bharti Enterprises Limited
Company typePrivate
IndustryConglomerate
Founded1976; 48 years ago (1976)[1]
FounderSunil Bharti Mittal
HeadquartersBharti Crescent, 1 Nelson Mandela Road, Vasant Kunj,
Delhi
,
India[2]
Area served
Worldwide
Key people
Sunil Bharti Mittal (Chairman)[3]
BrandsAirtel
Services
Number of employees
Decrease 14,485[4] (2021)
Subsidiaries
Websitewww.bharti.com

Bharti Enterprises is an Indian multinational conglomerate, headquartered in Delhi. It was founded in 1976 by Sunil Bharti Mittal. Bharti Enterprises owns businesses spanning across telecommunications, manufacturing, insurance, real estate, hospitality, and food. The group's flagship company, Bharti Airtel, is a telecom service provider with operations in more than 18 countries across Asia, Africa and Europe. The company ranks amongst the top two mobile network operators globally by number of subscribers.

History

[edit]

The company was founded by Sunil Bharti Mittal with his two siblings in 1976. The company initially started manufacturing bicycles before diversifying into other sectors. It entered into telecommunications industry in 1995.[5][6]

Companies

[edit]
Coverage map of Bharti Airtel across 18 countries

Bharti is present in many sectors with the largest revenue contribution coming from the telecom industry.

Bharti Airtel

[edit]
Main article: Bharti Airtel

Bharti Telecom (BTL), is a holding company of Bharti Airtel with Bharti Enterprises and SingTel owning 50.56 percent and 49.44 percent, respectively, in BTL, which in turn owns 35.80 percent of Bharti Airtel.[7]

Bharti Airtel is the third largest mobile operator in the world, in subscriber base, and has a presence across 18 countries.[8] The company is India's second largest integrated telecom company in customer base and offers mobile, fixed line, high speed home broadband, M-commerce, DTH and enterprise service.

Indus Towers

[edit]
Main article: Indus Towers

Indus Towers Limited is an telecommunications infrastructure company offering passive infrastructure services to mobile network operators and other wireless services providers. Headquartered in Gurugram, Haryana, Indus Towers was incorporated in November 2007 by Bharti Infratel (a subsidiary of Bharti Airtel), Vodafone Essar, and Idea Cellular, to provide shared telecom infrastructure to telecom operators on a non-discriminatory basis.[9]

Bharti Infratel merged with Indus Towers on 19 November 2020, creating one of the largest mobile tower infrastructure operators in the world.[10] Post-merger, Bharti Airtel holds a 36.73% stake in Indus Towers, with Vodafone Group holding 28.12%,[11] and 3.1% shares held by Providence Equity.[12] Indus Towers has over 192,874 towers and 342,831 co-locations and a nationwide presence covering all 22 telecom circles.[13]

Beetel Teletech

[edit]

Beetel Teletech Limited, formerly Brightstar Telecommunications India Limited, was founded in 1985. The company manufactures and distributes mobile accessories, IT peripherals, network and enterprise solutions, and landline phones. Its manufacturing unit is located in Ludhiana, Punjab. It is also a major distributor of IT and telecom products from international brands such as Avaya, Poly, Samsung, Panasonic, Huawei, QSC, Radwin, Ruckus, RAD and Actelis.[14]

Beetel Teletech launched a 7-inch Android tablet priced at ₹9,999 (equivalent to ₹21,000 or US$250 in 2023) in India on 18 August 2011. The offering was intended to capitalise on the expected demand for cheap computing devices in the world's fastest-growing and second-largest mobile phone market.[15]

Bharti Realty

[edit]

Bharti Realty is the in-house real estate arm for Bharti Group and facilitates by extending support to the Group Companies for identifying, developing and maintaining real estate.[16] It was established on 8 December 2003.[17][18]

Gourmet Investments

[edit]

Gourmet Investments Pvt Ltd was founded in 2012 by Ramit Mittal, the eldest son of Bharti Enterprises' vice chairman and managing director Rakesh Mittal, with support from the Bharti family office.[19] The company signed a 50:50 joint venture partnership agreement with British restaurant chain PizzaExpress in 2012, and opened the first outlet in Mumbai later that year.[20][21][22]

in 2018, Gourmet Investments partnered with Sri Lankan restaurant chain Ministry of Crab, owned by cricketers Kumara Sangakara, Mahela Jayawardene and chef Dharshan Munidasa, to launch outlets in India.[23] The first outlet was opened at Khar, Mumbai in February 2019.[24] In 2019, the company acquired some Indian outlets of the American restaurant chain Chili's.[25] Gourmet Investments operates 16 outlets of PizzaExpress, Chili's and Ministry of Crab as of February 2023.[26] In February 2023, Gourmet Investments reportedly signed an agreement with American restaurant chain P. F. Chang's to open outlets in India.[27]

Bharti AXA Life Insurance

[edit]

Bharti AXA Life Insurance Company Limited is a joint venture between Bharti Enterprises and French insurance company AXA established in 2006. Bharti Enterprises holds a 51% stake in the joint venture, with AXA holding the remaining 49%.[28] The company has a nationwide presence through 251 branches across India.[29]

Bharti Enterprises sought to exit its insurance services business beginning negotiations with Reliance Industries to sell its stake in both Bharti AXA Life Insurance and Bharti AXA General Insurance in 2016. However, no agreement was reached.[30] A consortium of the Hinduja Group and the Abu Dhabi Investment Authority reportedly entered negotiations to acquire Bharti AXA Life Insurance in December 2021.[31][32]

OneWeb

[edit]
Main article: OneWeb

A 50% stake in OneWeb was acquired in July 2020, being a joint venture with the UK Government for broadband satellite Internet services.[33]

Centum Learning

[edit]

Centum Learning Limited, formerly Bharti Learning Systems Limited, was a wholly owned subsidiary of Bharti Enterprises established in 2007.[34] Centum Learning was acquired by education technology firm upGrad in a share swap deal in September 2022.[35]

Norlake Hospitality

[edit]

Norlake Hospitality Limited is a real estate and hospitality property developer in Europe and the United States, in partnership with London-based hospitality company Ennismore.[36] Headquartered in London, it was founded on 18 May 2012.[37]

Emtel

[edit]

Bharti Enterprises acquired a 25% stake in Emtel which is a Mauritius-based telecommunications company, on 27 April 2015 through its subsidiary, Indian Continent Investment Limited (ICIL).[38]

Philanthropy

[edit]
Bharti School of Management in IIT Delhi campus.
Main article: Bharti Airtel Foundation

Bharti Foundation is the philanthropic arm of Bharti Enterprises. The Foundation has established schools in villages across India and offers free quality education with free books, uniform and mid day meals to poor children.[39] Satya Bharti School Program' – the Foundation's flagship program is running 254 schools in six States serving over 45,000 rural children, free of cost. The other educational initiatives including the – Satya Bharti School, Quality Support and Learning Centre Programs, are currently reaching out to over 350,000 underprivileged children in 16 states. Other Program of the Foundation making considerable impact among the underprivileged sections is – 'Satya Bharti Abhiyan' (Sanitation).

In 2017, the Bharti Family pledged 10% of wealth (approx. Rs 70 billion) towards Philanthropy to set up Satya Bharti University, a world-class University to offer education to deserving youth from economically weaker sections of society.[citation needed]

Former companies

[edit]

Hike

[edit]
Main article: Hike Messenger

Hike Private Limited was founded by Kavin Bharti Mittal in 2012. The company launched Hike Messenger, a freeware, cross-platform instant messaging (IM), Voice over IP (VoIP) application, on 12 December 2012.[40] Hike Messenger had more than 100 million registered users as of August 2016. It was rebranded as Hike Sticker Chat in April 2019. The app was shut down in January 2021. The company stated that it would pivot to building a new bite-sized gaming service named Rush.[41]

Del Monte Foods

[edit]

Del Monte Foods Private Limited, formerly FieldFresh Foods, was a 50:50 joint venture between Bharti Enterprises and Del Monte Pacific Limited (a subsidiary of Del Monte Foods). The company was established under the name FieldFresh Foods in 2010.[42] The company sold processed food and beverage products in India and South Asia under the Del Monte brand.[43]

Bharti AXA General Insurance

[edit]

Bharti AXA General Insurance Company Limited was a joint venture between Bharti Enterprises and French insurance company AXA incorporated on 13 July 2007.[44] Bharti Enterprises held a 51% stake in the joint venture, with AXA holding the remaining 49%. The company had a nationwide presence through 135 branches across India.[45] Bharti Enterprises sought to exit its insurance services business beginning negotiations with Reliance Industries to sell its stake in both Bharti AXA General Insurance and Bharti AXA Life Insurance in 2016. However, no agreement was reached.[30]

On 21 August 2020, Bharti AXA General Insurance and ICICI Lombard signed a definitive agreement for the latter to acquire the former in an all stock deal. Per the terms of the agreement, shareholders of Bharti AXA General Insurance received 2 shares of ICICI Lombard for every 115 shares they held.[46][47] The acquisition was completed on 8 September 2020.[48][49] Bharti Enterprises received 18.23 million shares in ICICI Lombard and AXA received 17.52 million shares,[48] worth a combined total of EUR 664 million.[50] The Insurance Regulatory and Development Authority of India granted in-principle approval to the acquisition in November 2020,[51] and final approval on 3 September 2021.[52]

Bharti Infratel

[edit]
Main article: Bharti Infratel

Bharti Infratel Limited was a telecommunications infrastructure company that provided telecom infrastructure such as telecom towers, fiber networks and other related infrastructure.[53] Headquartered in Gurugram, Haryana, the company was established by Bharti Airtel in July 2007 by spinning-off its mobile towers to a new wholly-owned subsidiary. Bharti Infratel was the first Indian company to start a tower infrastructure sharing business. It was India's largest consolidated tower infrastructure company, directly owning 95,372 towers as on 31 March 2020.[54]

Bharti Infratel was merged with Indus Towers on 19 November 2020. Prior to the merger, Bharti Infratel held a 42% stake in Indus Towers. Bharti Airtel now holds a 36.73% stake in Indus Towers.[11]

Bharti Wal-Mart

[edit]

Bharti Wal-Mart Private Limited was a 50:50 joint venture between Bharti Retail (a subsidiary of Bharti Enterprises) and Walmart that operated a chain of wholesale cash-and-carry retail stores in India. The two companies announced that they had signed an agreement to establish the company on 5 August 2007.[55][56] In February 2009, Bharti Wal-Mart announced that the stores would be branded Best Price Modern Wholesale and that the first store would open in Punjab.[57] The first Best Price Modern Wholesale opened in Amritsar in May 2009.[58] Bharti and Walmart ended the partnership in October 2013, with Walmart acquiring Bharti's stake in the joint venture. At the time the partnership was called off, Bharti Wal-Mart operated 19 Best Price Modern Wholesale stores.[59]

Bharti Retail/Easyday

[edit]

Bharti Retail Limited was established as a wholly-owned subsidiary of Bharti Enterprises at the time it began its joint venture with Walmart. Bharti Retail operated a chain of convenience stores, supermarkets and hypermarkets under the brand name Easyday. The stores were wholly-owned by Bharti Retail, while Bharti Wal-Mart provided the back-end, wholesaling and logistical support for the Easyday stores.[60]

In May 2015, Future Group acquired Bharti Retail in a deal worth around ₹500 crore (equivalent to ₹755 crore or US$90 million in 2023).[61] Following the acquisition, Bharti Enterprises received 9% stakes in Future Retail Limited (manages retail operations) and Future Enterprises Limited (manages infrastructure, investments and assets).[62] At the time of the acquisition, Bharti Retail operated 216 Easyday stores.[60]

References

[edit]
  1. ^ "About Us". www.bharti.com. Retrieved 21 May 2023.
  2. ^ "Contact Us". www.bharti.com. Retrieved 21 May 2023.
  3. ^ "Leadership". www.bharti.com. Retrieved 21 May 2023.
  4. ^ "Bharti Enterprises". Forbes.
  5. ^ "Bharti Airtel Ltd. - Money Control". Money Control.
  6. ^ Kumar, Shivendra (22 November 2023). "Bharti Airtel begins IPO process of subsidiary Bharti Hexacom: Report". The Economic Times. ISSN 0013-0389. Retrieved 22 March 2024.
  7. ^ Das, Saikat; Parbat, Kalyan (19 October 2021). "Airtel promoter arm to raise Rs 1,380 cr, to participate in the rights issue". The Economic Times. Retrieved 15 November 2021.
  8. ^ "Airtel: Latest News, Videos and Photos | Times of India". The Times of India. 22 September 2017. Retrieved 26 September 2017.
  9. ^ "TERI and Indus Towers jointly ink MoU on developing innovative renewable energy solutions". The Financial Express. Retrieved 25 July 2017.
  10. ^ "Largest tower company in world outside China! Indus Towers, Bharti Infratel merger complete". Business Today. 20 November 2020.
  11. ^ a b "Bharti Infratel, Indus Towers merger done; VIL sells Indus stake for ₹3,760 cr". mint. 19 November 2020. Retrieved 21 May 2023.
  12. ^ "Bharti Infratel, Indus Towers complete merger process". www.thehindubusinessline.com. 19 November 2020. Retrieved 21 May 2023.
  13. ^ Guha, Ishita (28 January 2021). "Indus Towers Q3 net profit up 2% at ₹1,360 crore". Livemint.
  14. ^ "Introduction". Beetel. Retrieved 21 May 2023.
  15. ^ Machado, Kenan (17 August 2011). "Bharti Unit Launches Android Tablet in India". The Wall Street Journal. Archived from the original on 17 January 2016. Retrieved 18 August 2011.
  16. ^ Sarkar, John (10 December 2019). "Bharti Realty talks to French chain Lafayette for 1st store". Times of India. Retrieved 15 November 2021.
  17. ^ "Bharti Realty Limited. Information - Bharti Realty Limited. Company Profile, Bharti Realty Limited. News on The Economic Times". The Economic Times. Archived from the original on 8 May 2019. Retrieved 21 May 2023.
  18. ^ "Bharti Realty Ltd - Company Profile and News". Bloomberg.com. Retrieved 21 May 2023.
  19. ^ "The man behind Ministry of Crab". www.dailyo.in. Retrieved 21 May 2023.
  20. ^ "UK's PizzaExpress to debut in India soon; hires CEO". Rediff. Retrieved 21 May 2023.
  21. ^ "UK legacy brand PizzaExpress now in Bengaluru". The Hindu. 26 April 2023. ISSN 0971-751X. Retrieved 21 May 2023.
  22. ^ Sinha, Sanjeev (23 March 2015). "We want PizzaExpress to become the benchmark for pizzas in India: Sanjay Nandrajog". The Economic Times. ISSN 0013-0389. Retrieved 21 May 2023.
  23. ^ www.ETRetail.com. "Gourmet Investments to bring Sri Lankan seafood joint to India - ET Retail". ETRetail.com. Retrieved 21 May 2023.
  24. ^ "Mumbai Welcomes Ministry of Crab". BW Hotelier. Retrieved 21 May 2023.
  25. ^ "Bharti co GIPL in talks to buy Chili's". The Times of India. 11 March 2019. ISSN 0971-8257. Retrieved 21 May 2023.
  26. ^ Haidar, Faizan; Bhushan, Ratna (7 February 2023). "Bharti Family Office firm to bring US-based food chain PF Chang's to India". The Economic Times. ISSN 0013-0389. Retrieved 21 May 2023.
  27. ^ Haidar, Faizan; Bhushan, Ratna (7 February 2023). "Bharti Family Office firm to bring US-based food chain PF Chang's to India". The Economic Times. ISSN 0013-0389. Retrieved 21 May 2023.
  28. ^ "Bharti AXA Life Insurance posts maiden profit of Rs 5 cr in FY18". DNA India. Retrieved 21 May 2023.
  29. ^ Jermoe, Karthik (28 February 2023). "Bharti AXA-Unity Bank in bancassurance tie-up to tap 1.5 mn customers". www.business-standard.com. Retrieved 21 May 2023.
  30. ^ a b "Insurer ICICI Lombard in talks to buy Bharti AXA". Hindustan Times. 11 August 2020. Retrieved 21 May 2023.
  31. ^ "Hinduja and ADIA combine in talks to but AXA stake in life insurance JV with Bharti". The Economic Times. 3 December 2021. ISSN 0013-0389. Retrieved 21 May 2023.
  32. ^ "Hinduja-ADIA consortium in talks to buy AXA stake In life insurance JV with Bharti". Moneycontrol. 1 December 2021. Retrieved 21 May 2023.
  33. ^ "UK government takes £400m stake in satellite firm OneWeb". BBC News. 3 July 2020.
  34. ^ "Upgrad acquires corporate training platform Centum Learning". The Economic Times. 15 September 2022. ISSN 0013-0389. Retrieved 21 May 2023.
  35. ^ "upGrad acquires corporate training solutions provider Centum Learning". cnbctv18.com. 15 September 2022. Retrieved 21 May 2023.
  36. ^ "Bharti Website: Our Companies". www.bharti.com. Retrieved 21 May 2023.
  37. ^ "NORLAKE HOSPITALITY LIMITED overview - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 21 May 2023.
  38. ^ "Brief Rationale Emtel Limited ("Emtel")" (PDF). Care Ratings Africa. p. 2. Retrieved 21 May 2023.
  39. ^ Suzanne McGee (30 November 2009). "The 25 Best Givers". Barron's. Retrieved 1 April 2010.
  40. ^ "Hike Launches Globally". Bharti SoftBank. 12 December 2012. Archived from the original on 2 April 2015. Retrieved 12 August 2014.
  41. ^ "Hike shuts messaging app, shifts focus to new social offerings". The Economic Times. 19 January 2021. ISSN 0013-0389. Retrieved 21 May 2023.
  42. ^ "Bharti unveils FieldFresh in joint venture with Del Monte". The Hindu. 2 November 2010. ISSN 0971-751X. Retrieved 21 May 2023.
  43. ^ "Bharti Website: Our Companies". www.bharti.com. Retrieved 21 May 2023.
  44. ^ "Bharti AXA General Insurance Company Limited Information". The Economic Times. Archived from the original on 8 May 2019. Retrieved 21 May 2023.
  45. ^ "About us". bharti-axagi.co.in. Archived from the original on 25 March 2021.
  46. ^ "ICICI Lombard signs definitive agreement to acquire non-life insurance business of Bharti AXA". The Hindu. 22 August 2020. ISSN 0971-751X. Retrieved 21 May 2023.
  47. ^ Laskar, Anirudh (22 August 2020). "ICICI Lombard, Bharti AXA to merge general insurance businesses". mint. Retrieved 21 May 2023.
  48. ^ a b "ICICI Lombard ceases to be ICICI Bank subsidiary post Bharti AXA merger". mint. 9 September 2021. Retrieved 21 May 2023.
  49. ^ "Bharti AXA General Insurance Merger with ICICI Lombard".
  50. ^ "ICICI Lombard, Bharti AXA merger completed". www.insurancebusinessmag.com. Retrieved 21 May 2023.
  51. ^ "Irdai approves acquisition of Bharti AXA General Insurance by ICICI Lombard". mint. 27 November 2020. Retrieved 21 May 2023.
  52. ^ Livemint (4 September 2021). "Irdai grants final approval to Bharti AXA - ICICI Lombard deal". mint. Retrieved 21 May 2023.
  53. ^ "Investor Relations - Bharti Infratel". www.bharti-infratel.com. Retrieved 24 June 2020.
  54. ^ "Company Profile". Bharti Infratel. Archived from the original on 6 July 2020.
  55. ^ "Bharti Enterprises and Wal-Mart Join Hands in Wholesale Cash-and-Carry to Serve Small Retailers, Manufacturers and Farmers". Corporate - US. Retrieved 21 May 2023.
  56. ^ "Wal-Mart to enter India in Bharti retail venture". Reuters. 20 January 2007. Retrieved 21 May 2023.
  57. ^ "New name for Bharti JV with Wal-Mart". The Times of India. 3 February 2009. ISSN 0971-8257. Retrieved 21 May 2023.
  58. ^ Bhandari, Bhupesh; Rai, Amit Ranjan (10 November 2009). "Inside Bharti Walmart". www.business-standard.com. Retrieved 21 May 2023.
  59. ^ Tandon, Suneera (9 October 2013). "Wal-Mart, Bharti end India venture, look to move on". mint. Retrieved 21 May 2023.
  60. ^ a b Mallet, Victor; Kazmin, Amy (4 May 2015). "Bharti Retail and Future Group to merge". Financial Times. Retrieved 21 May 2023.
  61. ^ "Kishore Biyani's Future group acquires Bharti Retail in an all-stock deal valued at Rs 500 crore". The Economic Times. 5 May 2015. ISSN 0013-0389. Retrieved 21 May 2023.
  62. ^ "Future Group's retail business to merge with Bharti Retail". Deccan Herald. 4 May 2015. Retrieved 21 May 2023.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Bharti_Enterprises&oldid=1260807225"