BSNL raises Rs 8,500 cr via sovereign bonds; to sell assets worth Rs 18k cr

State-run telecom firm BSNL raised more than Rs 8,500 crore through sovereign guarantee bonds with government funds and PSU banks participating in the issue, a top official of the company said on Monday.

BSNL Chairman and Managing Director P K Purwar said the company is also planning to monetise assets worth Rs 18,000 crore within a year and expects the loss-making company to become operationally profitable in the financial year 2021.

“We opened the bond issue at 10.30 am and closed at 12 pm. The bond was subscribed over two times. We were able to get bids of over Rs 17,170 crore but we accepted only Rs 8,500 crore as per the approved bond size,” Purwar told reporters.