Bharti Enterprises’ space arm, Bharti Space Ltd, will invest €31.4 million (approx Rs 313 crore or $36 million) in French satellite operator Eutelsat. This investment is part of a €1.35 billion (Rs 11,250 crore) capital raise aimed at reducing debt and accelerating global satellite infrastructure expansion.
Eutelsat, which merged with OneWeb last year, said the fresh funding will strengthen its position in the global space communications market. The capital infusion includes a €716 million reserved capital increase and a €634 million rights issue.
The French government will provide more than half the capital, or €717 million. The rest will come from aerospace company Bharti Space, container ship operator CMA CGM, and investment firm Fonds Strategique de Participations. After the deal closes, the participants in the round will own more than 60% of Eutelsat.
Pending shareholder and regulatory approvals, the equity offering is expected to close by the end of 2025.
According to a Reuters report, the U.K. government, which has a 10.9% stake in the company, could also join the round. Bharti currently owns 24% of Eutelsat Group, which will adjust to 18.7% post-fundraise. Meanwhile, the French state will become the largest shareholder, increasing its stake to 29.99%. Bharti also holds a 21% stake in the merged Eutelsat-OneWeb entity.
The reserved capital increase is priced at €4 per share, a 32% premium over Eutelsat’s 30-day average on Euronext Paris.
“We are delighted that under President Macron’s leadership, the French state is backing Eutelsat as Europe’s space champion,” said Sunil Bharti Mittal, Founder & Chairman of Bharti Enterprises and Co-Chairman of Eutelsat Group. “We also welcome the French armed forces ministry’s long-term €1 billion contract to reserve capacity on OneWeb’s low-Earth orbit constellation for mission-critical needs.”
Calling it a turning point, Eutelsat CEO Jean-François Fallacher said, “Eutelsat enters a new chapter centred on LEO—a transformative leap for the satellite industry.”
In India, Eutelsat-OneWeb has received government clearance to launch satellite broadband but is awaiting spectrum allocation from the Department of Telecommunications for commercial rollout.
Bharti’s renewed backing comes just weeks after Bharti Airtel announced a partnership with SpaceX to bring Starlink satellite internet to India, underscoring the group’s strategy of supporting LEO and GEO platforms to meet rising rural connectivity demands.
The company is positioning itself as a key force in sovereign European satellite infrastructure, powered by a hybrid fleet of 35 geostationary (GEO) and over 600 low-earth orbit (LEO) satellites.
Eutelsat recently signed a 10-year, €1 billion contract with France’s Ministry of the Armed Forces under the Nexus programme, aimed at integrating military and civilian satellite networks to enhance Europe’s secure space communications capabilities.
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