Mahanagar Telephone Nigam (MTNL) on Monday (27 February 2023) announced that it allotted 3,615 bonds in nature of debentures having face value of Rs 10 lakh, aggregating upto Rs 361.50 crore.
These Government of India guaranteed, unsecured, rated, listed, redeemable, non-convertible and taxable bonds in the nature of debentures series VII-D have an interest rate of 7.80% p.a. and will mature on 24 February 2033.The bonds are listed in the Bombay Stock Exchange (BSE). The bonds are rated "AAA(CE), IND AAA(CE)/Stable" by CARE.
Mahanagar Telephone Nigam (MTNL) is engaged in providing telecom services in the geographical area of Mumbai and Delhi.
The company reported consolidated net loss of Rs 775.50 crore in Q3 FY23 as compared to net loss of Rs 659.28 crore in Q3 FY22. Net sales declined 25.1% year on year to Rs 227.41 crore in Q3 FY23.
The scrip tumbled 4.46% to Rs 19.30 on the BSE.
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