MTNL planning to issue government bonds to raise up to Rs 12 billion

According to industry sources, Mahanagar Telephone Nigam Limited (MTNL) is expected to issue government-guaranteed bonds to raise funds up to Rs 12 billion. The bidding for the bond sale is expected to take place on August 23, 2023.

On July 14, 2923, MTNL informed the stock exchanges that it had received in-principle approval to issue bonds worth up to Rs 66.61 billion via private placement during the fiscal year 2023-24.