Government sells MTNL and BSNL assets at base price of Rs 970 crore, Telecom News, ET Telecom

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New Delhi: The government has put up for sale the real estate assets of state-run telecommunications companies MTNL and BSNL at a reserve price of around Rs 970 crore, according to documents uploaded to DIPAM’s website.

The BSNL properties located in Hyderabad, Chandigarh, Bhavnagar and Kolkata were put up for sale at a reserve price of around Rs 660 crore.

The Department of Public Asset Management and Investment (DIPAM) website has listed MTNL’s assets located at Vasari Hill, Goregaon in Mumbai for sale at a reserve price of around Rs 310 crore.

“This is the first step in monetizing assets at MTNL and BSNL. Offers have been made for BSNL assets worth Rs 660 crore and MTNL assets worth Rs 310 crore. We plan to complete the whole process in a month and a half, ”BSNL Chairman and CEO PK Purwar told PTI.

MTNL’s 20 apartments located in Oshiwara were also put up for sale as part of the company’s asset monetization plan.

The apartments consist of two 1-room units, 17 1-bedroom and kitchen units (BHK) and one 2 BHK unit. Their reserve prices range from Rs 52.26 lakh to Rs 1.59 crore.

India has drawn up a plan worth nearly 1.3 trillion rupees ($ 17.54 billion) to revive the state-run telecommunications companies Mahanagar Telephone Nigam and Bharat Sanchar Nigam Ltd, according to the news agency NewsRise.

The electronic auction for MTNL’s assets will take place on December 14.

The asset monetization is part of the Rs 69,000 crore stimulus package for MTNL and BSNL which was approved by the government in October 2019.

The two public sector companies were to identify and monetize assets worth Rs 37,500 crore by 2022.

“We will proceed in accordance with market demand for asset monetization,” added Purwar.


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