SME Times is powered by   
Search News
Just in:   • Lesser chance of a future rate cut drags market lower  • Nomura raises target price for RIL to Rs 2,020  • Several schemes to push women entrepreneurship: Minister  • Ex-Petroleum Secy Chaturvedi appointed NSE Chairman  • Maruti Suzuki recalls 63,493 units of Ciaz, Ertiga, XL6 
Last updated: 13 Nov, 2019  

BSNL.Border.Thmb.jpg BSNL to raise Rs 15000 cr through sovereign bonds next month

   Top Stories
» Several schemes to push women entrepreneurship: Minister
» "Govt's mantra Sabka Saath, Sabka Vikas, Sabka Vishwas"
» Forex reserves rise by $2.48 bn to over $451 bn
» RBI holds key lending rates, remains accommodative
» Goyal for making GeM more MSME-friendly
SME Times News Bureau | 13 Nov, 2019
State run BSNL plans to issue sovereign bonds for raising Rs 15,000 crore next month, its chairman and MD P. K. Purwar has said.

"We have written to DoT already asking for approval for the Rs 15,000 crore sovereign bonds. DoT is in the process of sending it to finance ministry for approval. We can raise all Rs 15,000 crore in one tranche. We expect to get the approval soon for the bonds to raise the funds", P K Purwar, CMD of BSNL told IANS.

Government bond or sovereign bond is a bond issued by a national government, generally with a promise to pay periodic interest payments called coupon payments and to repay the face value on maturity.

The package includes raising of Rs 15,000 crore sovereign bonds to meet the immediate capital requirement. BSNL is slated to start 4G services next year and before that it will have to take network upgrade, float a new 4G tender as well.

On November 1, state-run MTNL said it has received communications from the Government on the cabinet decision. As per this decision, MTNL will be a subsidiary of BSNL by transferring the government's shareholding to it following the Union Cabinet's in-principle approval to their merger. Government holds 56.25 per cent in MTNL. The cabinet decision last month had paved the way for MTNL to be a subsidiary of BSNL and the firms can raise Rs 15,000 crore on sovereign bonds.
Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 07 Dec, 2019
  Daily Poll
Ease of doing business improved in last one year
 Can't say
  Commented Stories
» MRF to set up a new plant in Gujarat(2)
» Starting an import export business: Basic guide for beginners(1)
» BSNL starts survey for installation of mobile towers along India-China border(1)
» Sitharaman hints at more interventions amid growth concerns(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter