Shares of Bajaj Finance jumped 3.62% to Rs 7,440.45 while Bharti Airtel rose 0.47% to Rs 1,635 on the BSE.

The partnership will bring Airtel’s highly engaged customer base of 370 million, more than 12 lakh strong distribution network, and Bajaj Finance’s diversified suite of 27 product lines, and distribution heft of over 5,000 branches and 70,000 field agents.

Airtel will initially offer Bajaj Finance’s retail financial products on its Airtel Thanks App for seamless and secure customer experience, and later through its nation-wide network of stores. The combined strength of the companies’ digital assets will enable Airtel and Bajaj Finance to significantly deepen penetration of financial products and services.

Airtel customers have the opportunity to apply for the Airtel-Bajaj Finserv Insta EMI card via the Airtel Thanks App and later through its nation-wide network of stores. Airtel-Bajaj Finserv EMI card provides access to a range of offers available to Bajaj Finance customers.

The users will benefit from flexible EMI options and payment plans for purchasing various goods, including electronics, furniture and groceries at over 1.5 lakh partner stores across more than 4,000 cities. Additionally, the co-branded card is applicable for e-commerce transactions on multiple platforms.

Gopal Vittal, vice chairman and MD, Bharti Airtel, said, “We are building Airtel Finance as a strategic asset for the group and will continue to invest in and grow the business. Today, we are trusted by over 1 million customers and our vision is to make Airtel Finance a one-stop shop for all the financial needs of our customers.”

Rajeev Jain, managing director, Bajaj Finance, said, “Our partnership with Airtel not only leverages India’s digital infrastructure for inclusive growth but also brings together the expertise and reach of two of India’s leading and most-trusted brands. Together with Airtel, we seek to be the financier of choice to India and enable millions to access financial services, even in remote areas. We are excited to join hands with Airtel at a time when Bajaj Finance is harnessing the power of AI to enhance efficiencies and elevate customer experiences.”

Bharti Airtel is a global communications solutions provider with over 550 million customers in 15 countries across South Asia and Africa.

Bajaj Finance is one of India’s leading and most diversified financial services companies. The company is mainly engaged in the business of lending. BFL has a diversified lending portfolio across retail, SME, and commercial customers with a significant presence.