MoneyWorks4Me

MTNL plans to raise Rs 10 billion through bonds: Report

26 Mar 2014 Evaluate

State-run Mahanagar Telephone Nigam (MTNL) is reportedly planning to raise Rs 10 billion via 10-year bonds at 9.39 percent semi-annual coupon. The credit rating agencies, Crisil and Care have assigned AAA (SO) rating to bonds. The company had set the base size for the sale at Rs 5 billion.

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 1752.40
Vodafone Idea 12.70
Indus Towers 377.70
Tata Communications 1686.35
Railtel Corp. India 255.50
View more..