MTNL to seek shareholders’ nod for raising Rs 2,138 cr through sovereign bonds

New Delhi: State-owned telecom firm MTNL on Tuesday said it will on December 31 seek shareholders’ nod to raise Rs 2,138.6 crore as part of sovereign guarantee bond. The government allowed MTNL to raise up to Rs 6,500 crore for a tenure of 10 years through sovereign guarantee bonds as part of its revival package.

The company has already raised Rs 4,361.4 crore under the package on October 12.

It will seek shareholders’ nod at its annual general meeting (AGM) scheduled for December 31.