MTNL plans ₹2,138 crore bond issuance

The Centre allowed MTNL to raise up to ₹6,500 crore for a tenure of 10 years through sovereign guarantee bonds as part of its revival package.

A file photo used for representational purpose only.

State-owned MTNL on Tuesday said it will seek shareholders’ nod to raise ₹2,138.6 crore via sovereign-guarantee bonds.

The Centre allowed MTNL to raise up to ₹6,500 crore for a tenure of 10 years through sovereign guarantee bonds as part of its revival package.

The company, which had already raised ₹4,361.4 crore under the package on October 12, will seek shareholders’ nod at its annual general meeting scheduled for December 31.

MTNL will also seek shareholders’ approval for the appointment of P. K. Purwar as CMD.