Government To Sell Properties Of BSNL And MTNL

Government to sell properties of BSNL and MTNL, documents uploaded on DIPAM website.

According to documents uploaded on the website of the Department of Investment and Public Asset Management (DIPAM).

The government has listed real estate assets of state-run telecom companies MTNL and BSNL for sale at a reserve price of around Rs 970 crore.

BSNL properties located in Hyderabad, Chandigarh, Bhavnagar, and Kolkata have been posted for sale at a reserve price of around Rs 660 crore.

MTNL properties located at Vasari Hill, Goregaon, Mumbai have been listed for sale on the DIPAM website at a reserve price of around Rs 310 crore.

BSNL Chairman and Managing Director PK Purwar said in a statement, “This is the first phase of asset monetization in MTNL and BSNL.

Bids were invited for assets of Rs.660 crores of BSNL and Rs.310 crores of MTNL assets”. We plan to complete the entire process within one-and-a-half months.”

In addition, 20 flats of MTNL located in Oshiwara have also been put up for sale as part of the company’s asset monetization plan. The reserve price of these flats ranges from Rs 52.26 lakh to Rs 1.59 crore.

The e-auction of MTNL properties will be held on December 14. This asset monetization is part of the Rs 69,000 crore revival plan for MTNL and BSNL that was approved by the government in October 2019.

The plan was to monetize the assets of these two public sector firms to the tune of Rs 37,500 crore by the year 2022.

Government to sell properties: The government will give up its stake in these six public companies.

With BSNL and MTNL auctioning real estate assets, the government is likely to delist its stake in six public sector companies by the fourth quarter of this fiscal.

The names of these six companies include BPCL, BEML, Shipping Corp., Pawan Hans, Central Electronic, and Nilanchal Ispat.

Out of which the process of privatization of BPCL is going on, as well as the bidding process of BEML, Shipping Corp, Pawan Hans, Central Electronic, and Nilanchal Ispat may also start in the coming few days.