diff --git a/changelogs/fragments/50006-azure_rm_inventory_batchrequest_fix.yaml b/changelogs/fragments/50006-azure_rm_inventory_batchrequest_fix.yaml
new file mode 100644
index 0000000000..8bd4141432
--- /dev/null
+++ b/changelogs/fragments/50006-azure_rm_inventory_batchrequest_fix.yaml
@@ -0,0 +1,2 @@
+bugfixes:
+- azure_rm inventory plugin - fix azure batch request (https://github.com/ansible/ansible/pull/50006)
diff --git a/lib/ansible/plugins/inventory/azure_rm.py b/lib/ansible/plugins/inventory/azure_rm.py
index edc4017451..3607d0e9f0 100644
--- a/lib/ansible/plugins/inventory/azure_rm.py
+++ b/lib/ansible/plugins/inventory/azure_rm.py
@@ -143,6 +143,7 @@ exclude_host_filters:
 import hashlib
 import json
 import re
+import uuid
 
 try:
     from queue import Queue, Empty
@@ -350,9 +351,10 @@ class InventoryModule(BaseInventoryPlugin, Constructable):
         if next_link:
             self._enqueue_get(url=next_link, api_version=self._compute_api_version, handler=self._on_vm_page_response)
 
-        for h in response['value']:
-            # FUTURE: add direct VM filtering by tag here (performance optimization)?
-            self._hosts.append(AzureHost(h, self, vmss=vmss))
+        if 'value' in response:
+            for h in response['value']:
+                # FUTURE: add direct VM filtering by tag here (performance optimization)?
+                self._hosts.append(AzureHost(h, self, vmss=vmss))
 
     def _on_vmss_page_response(self, response):
         next_link = response.get('nextLink')
@@ -372,16 +374,16 @@ class InventoryModule(BaseInventoryPlugin, Constructable):
         while True:
             batch_requests = []
             batch_item_index = 0
-            batch_response_handlers = []
+            batch_response_handlers = dict()
             try:
-                while batch_item_index < 500:
+                while batch_item_index < 100:
                     item = self._request_queue.get_nowait()
 
+                    name = str(uuid.uuid4())
                     query_parameters = {'api-version': item.api_version}
                     req = self._client.get(item.url, query_parameters)
-
-                    batch_requests.append(dict(httpMethod="GET", url=req.url))
-                    batch_response_handlers.append(item)
+                    batch_requests.append(dict(httpMethod="GET", url=req.url, name=name))
+                    batch_response_handlers[name] = item
                     batch_item_index += 1
             except Empty:
                 pass
@@ -391,15 +393,23 @@ class InventoryModule(BaseInventoryPlugin, Constructable):
 
             batch_resp = self._send_batch(batch_requests)
 
-            for idx, r in enumerate(batch_resp['responses']):
+            key_name = None
+            if 'responses' in batch_resp:
+                key_name = 'responses'
+            elif 'value' in batch_resp:
+                key_name = 'value'
+            else:
+                raise AnsibleError("didn't find expected key responses/value in batch response")
+
+            for idx, r in enumerate(batch_resp[key_name]):
                 status_code = r.get('httpStatusCode')
+                returned_name = r['name']
+                result = batch_response_handlers[returned_name]
                 if status_code != 200:
                     # FUTURE: error-tolerant operation mode (eg, permissions)
-                    raise AnsibleError("a batched request failed with status code {0}, url {1}".format(status_code, batch_requests[idx].get('url')))
-
-                item = batch_response_handlers[idx]
+                    raise AnsibleError("a batched request failed with status code {0}, url {1}".format(status_code, result.url))
                 # FUTURE: store/handle errors from individual handlers
-                item.handler(r['content'], **item.handler_args)
+                result.handler(r['content'], **result.handler_args)
 
     def _send_batch(self, batched_requests):
         url = '/batch'
@@ -409,8 +419,11 @@ class InventoryModule(BaseInventoryPlugin, Constructable):
 
         body_content = self._serializer.body(body_obj, 'object')
 
+        header = {'x-ms-client-request-id': str(uuid.uuid4())}
+        header.update(self._default_header_parameters)
+
         request = self._client.post(url, query_parameters)
-        initial_response = self._client.send(request, self._default_header_parameters, body_content)
+        initial_response = self._client.send(request, header, body_content)
 
         # FUTURE: configurable timeout?
         poller = ARMPolling(timeout=2)
@@ -499,7 +512,7 @@ class AzureHost(object):
                 pip_id = ipc['properties'].get('publicIPAddress', {}).get('id')
                 if pip_id:
                     pip = nic.public_ips[pip_id]
-                    new_hostvars['public_ipv4_addresses'].append(pip._pip_model['properties']['ipAddress'])
+                    new_hostvars['public_ipv4_addresses'].append(pip._pip_model['properties'].get('ipAddress', None))
                     pip_fqdn = pip._pip_model['properties'].get('dnsSettings', {}).get('fqdn')
                     if pip_fqdn:
                         new_hostvars['public_dns_hostnames'].append(pip_fqdn)
@@ -514,8 +527,9 @@ class AzureHost(object):
                                  for s in vm_instanceview_model.get('statuses', []) if self._powerstate_regex.match(s.get('code', ''))), 'unknown')
 
     def _on_nic_response(self, nic_model, is_primary=False):
-        nic = AzureNic(nic_model=nic_model, inventory_client=self._inventory_client, is_primary=is_primary)
-        self.nics.append(nic)
+        if nic_model.get('type') == 'Microsoft.Network/networkInterfaces':
+            nic = AzureNic(nic_model=nic_model, inventory_client=self._inventory_client, is_primary=is_primary)
+            self.nics.append(nic)
 
 
 class AzureNic(object):