Loss-making Tata Teleservices plans to sell its residual businesses during the 2020-21 financial year to help clear some of its loans, according to a report by Business Standard.
The company has put up for sale its wireline data, marketing and voice services along with managed services and broadband services, the report said.
Tata Sons, the company's promoter, has agreed to help in the event of a shortage of liquidity till June 2021, the report added.
Moneycontrol could not independently verify the report.
Tata Teleservices had sold its consumer mobile business to Bharti Airtel, a deal that was completed in July 2019.
Tata Sons had invested Rs 46,595 crore into the telecom company from January 1, 2014, to December 31, 2019. The financial assistance was given to help Tata Teleservices with capital expenditure and clear some of its debt.
Tata Sons may need to infuse additional capital to help Tata Teleservices clear its adjusted gross revenue (AGR) dues, bankers told Business Standard.
Tata Teleservices has been asked to pay around Rs 14,000 crore as AGR-related dues to the Department of Telecommunications (DoT).
Tata Teleservices (Maharashtra) recorded a loss before tax of Rs 3,714.11 crore in FY20, the company said in a statement.
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