Government Invites Bids To Sell 6 BSNL, MTNL Assets

Centre Lists 6 BSNL, MTNL Assets Worth Crores For Sale

MTNL reported a lack of Rs 653 crore for the July-September quarter

Beginning the non-core asset monetisation course of, the Department of Investment and Public Asset Management (DIPAM) at present invited bids to promote six property of state-run telecom corporations Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) by its new asset monetisation portal. “Non core asset monetisation commences with the first set of six properties of BSNL/ MTNL bid out on the MSTC portal,” DIPAM Secretary Tuhin Kanta Pandey tweeted.

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The authorities has listed on the market actual property property of the telecom firms at a reserve value of round Rs 1,100 crore, in response to studies. On November 18, shares of MTNL rose as a lot as 15 per cent to Rs 20.70 of their greatest intraday rise since March 10, after it was reported that the federal government plans to revive the corporate. MTNL’s shares have up to now gained 30.4 per cent this yr. Set up in 1986 by the federal government, MTNL reported a lack of Rs 653 crore for the July-September quarter, up from Rs 583 crore a yr in the past. Its whole debt stood at Rs 25,615 crore, on the finish of the earlier fiscal 2020-21. The sale of non-core property equivalent to land parcels or actual property is being managed by the DIPAM, and is just like the pipeline of core property created for monetisation by the federal government think-tank NITI Aayog. The goal is to utilise the idle land parcels of state-owned entities and realise the worth. The initiative is on the traces of the National Monetisation Pipeline (NMP) – the place the federal government goals to monetise underutlised property, however will solely embrace non-core property.

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