MoneyWorks4Me

MTNL to seek shareholders' nod for monetisation of land & buildings

12 Dec 2019 Evaluate

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.

Peers
Company Name CMP
Bharti Airtel 1764.00
Vodafone Idea 12.58
Indus Towers 377.95
Tata Communications 1660.00
Railtel Corp. India 253.05
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