MTNL seeks shareholders' nod to raise ₹3,126 crore via bonds
₹3,126 crore through debt bonds against sovereign guarantee. The company in a regulatory filing said it “had issued notice dated 31st August 2023 (“AGM Notice") & Addendum of 37th AGM dated 06.09.2023 for convening of the 37th Annual General Meeting (“AGM") of the members of the company scheduled to be held on Friday, September 29, 2023 at 11:30 A.M.
through Video Conferencing (VC)/Other Audio Visual Means (OVAM)." MTNL in the filing said “the consent of shareholders is hereby sought for authorizing the Board for issue of sovereign guarantee bonds of tenure of ten years or more amounting upto ₹3,126 crores by passing a Special Resolution. This resolution shall be valid for one year from the conclusion of this AGM." “...approval of the members be and is hereby accorded to authorise the Board of Directors of the Company to offer or invite or invite subscriptions for Government Guaranteed, Unsecured, Listed, Redeemable Non-Convertible Debentures in the nature of Bonds (NCDs), in one or more series or tranches, aggregating up to ₹3,126 crore on Private Placement basis," the filing said.
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