The public sector telecom company BSNL has raised more than Rs. 8,500 crore from sovereign guarantee bonds. Earlier, the government had allowed a sovereign guarantee bond of Rs. 8,500 crore for revival of the public sector telecom company. BSNL Chairman and Managing Director P K Purwar gave the information on Monday.
"We opened the bond for subscription at 10:30 a.m. and closed at 12 o'clock," Purwar told reporters. "The bond received more than double the subscription. We got bids of more than Rs.17,170 crores, but we accepted Rs.8,500 crores as per the sanctioned size of the bond". He said that BSNL received 229 bids worth Rs 17,183 crore. These bonds have been issued for 10 years at a coupon rate of 6.79% per annum. It was attended by National Pension Scheme, Gramin Dak Jeevan Bima, State Bank of India and Punjab National Bank.
The BSNL was established on 15th September 2000. Bsnl's portal company aims to become the country's leading telecom service provider with a global presence. In addition, the company aims to provide the best service in customer care, sales and marketing. The company's main goal is to reach out to customers.
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