Mahanagar Telephone Nigam (MTNL) is going to seek shareholders' nod for monetisation of land and buildings as well as for raising up to Rs 6,500 crore through non-convertible debentures (NCDs). The company's extraordinary general meeting will be held on January 8, 2020, in this regard.
MTNL was set up by the Government of India to upgrade the quality of telecom services, expand the telecom network, and introduce new services and to raise revenue for telecom development needs of India's key metros -- Delhi and Mumbai.