Mahanagar Telephone Nigam (MTNL) share price rose more than 8 percent to Rs 20.40 intraday as the government is planning to sell real estate assets of state-run telecom firms.
The government has listed for sale real estate assets of state-run telecom firms MTNL and BSNL at a reserve price of around Rs 1,100 crore, according to documents uploaded on the DIPAM website.
BSNL properties located in Hyderabad, Chandigarh, Bhavnagar and Kolkata have been posted for sale at a reserve price of around Rs 800 crore.
The Department of Investment and Public Asset Management (DIPAM) website has listed MTNL assets located in Vasari Hill, Goregaon in Mumbai for sale at a reserve price of around Rs 270 crore.
MTNL's 20 flats located in Oshiwara have also been put up for sale as part of the asset monetisation plan of the company.
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The flats include two units of 1-room set, 17 units of 1 bedroom hall and kitchen (BHK) and one unit of 2 BHK. Their reserve prices range from Rs 52.26 lakh to Rs 1.59 crore. The e-auction for MTNL assets will take place on December 14.
The asset monetisation is part of the Rs 69,000 crore revival scheme for MTNL and BSNL which was approved by the government in October 2019. Both the public sector firms were to identify and monetise assets worth Rs 37,500 crore by 2022.
At 09:32 hrs, MTNL was quoting at Rs 20.05, up Rs 1.20, or 6.37 percent.
[With inputs from PTI]
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