 "Telecom firm BSNL raises Rs 8,500 crore through sovereign bonds")
State-run telecom firm BSNL has raised more than Rs 8,500 crore through sovereign guarantee bonds, a top official of the company said on Monday.
The government has approved Rs 8,500 crore sovereign guarantee bonds for the revival of the telecom PSU.
"We opened the bond 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," BSNL chairman and managing director PK Purwar told reporters.
BSNL received total 229 bids valued at Rs 17,183 crore.
The bonds have been issued at coupon rate of 6.79 per cent per annum for 10 year period.
BSNL saw participation of National Pension Scheme, Rural Postal Life Insurance, State Bank of India, Punjab National Bank etc.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app