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MTNL seeks preferential capital issuance worth Rs 62.92 billion to launch 4G services

October 11, 2018
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Mahanagar Telephone Nigam Limited (MTNL) has sought a preferential capital issuance of Rs 62.92 billion from the government to launch 4G services. With regard to this, the operator would soon release a tender to select a gear vendor partner.

MTNL is planning to launch high-speed 4G services in the 1800 MHz and 2100 MHz spectrum bands. To this end, the operator has requested the government for 1800 MHz spectrum band in Delhi and 2100 MHz in Mumbai.

Once approved, the move to issue equity shares to the government for required airwaves would not add to the debt burden of MTNL which already has Rs 180 billion of loans outstanding.

Currently, MTNL has more than eight million subscribers including 1.1 million broadband consumers.

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