November 29, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Revival scheme: MTNL, BSNL assets worth Rs 970 crore to be monetised

"This is the first stage of asset monetisation at MTNL and BSNL. Bids have been invited for BSNL assets worth Rs 660 crore and MTNL assets worth Rs 310 crore. We plan to complete the entire process within one-and-half months," BSNL chairman and managing director PK Purwar said."This is the first stage of asset monetisation at MTNL and BSNL. Bids have been invited for BSNL assets worth Rs 660 crore and MTNL assets worth Rs 310 crore. We plan to complete the entire process within one-and-half months," BSNL chairman and managing director PK Purwar said. “This is the first stage of asset monetisation at MTNL and BSNL. Bids have been invited for BSNL assets worth Rs 660 crore and MTNL assets worth Rs 310 crore. We plan to complete the entire process within one-and-half months,” BSNL chairman and managing director PK Purwar said.

The Department of Investment and Public Asset Management (DIPAM) has invited bids to monetise six assets of Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) at a reserve price of around Rs 970 crore via a new asset monetisation portal.

BSNL properties located in Hyderabad, Chandigarh, Bhavnagar and Kolkata have been posted for sale at a reserve price of around Rs 660 crore. MTNL assets located in Vasari Hill, Goregaon in Mumbai have been listed for sale at a reserve price of around Rs 310 crore. MTNL’s 20 flats located in Oshiwara have also been put up for sale as part of the asset monetisation plan of the company. The flats include two units of 1-room set, 17 units of 1 bedroom hall and kitchen (BHK) and one unit of 2 BHK. Their reserve prices range from Rs 52.26 lakh to Rs 1.59 crore.

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“This is the first stage of asset monetisation at MTNL and BSNL. Bids have been invited for BSNL assets worth Rs 660 crore and MTNL assets worth Rs 310 crore. We plan to complete the entire process within one-and-half months,” BSNL chairman and managing director PK Purwar said.

The e-auction for MTNL assets will take place on December 14. “We will proceed as per market demand for asset monetisation,” Purwar added.

The asset monetisation is part of the Rs 69,000 crore revival scheme for MTNL and BSNL which was approved by the government in October 2019. Both the public sector firms were to identify and monetise assets worth Rs 37,500 crore by 2022.

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