MTNL seeks shareholders’ nod for fundraising, monetisation of land & buildings
New Delhi: State-owned MTNL on Wednesday said it will seek shareholders’ nod for monetisation of land and buildings as well as for raising up to Rs 6,500 crore through non-convertible debentures (NCDs). Mahanagar Telephone Nigam Ltd (MTNL) said the company’s extraordinary general meeting will be held on January 8, 2020, in this regard.
The company would seek shareholders’ approval for issue of non-convertible redeemable non-cumulative preference shares (NCRNCPS) on a private placement basis to the government towards payment of 4G spectrum cost.