MTNL will now offer Voluntary Retirement Scheme (VRS) to employees who are 45 years old or older, including both executives and non-executives.
The total size of the issue consists Rs 500 crore base issue and Rs 6,500 crore in greenshoe, dealers said
The telecom company had posted a loss of about Rs 950 crore in the year-ago period.
The crisis-ridden company had posted loss of over Rs 900 crore in the corresponding period last year.
The loss-making telecom corporation said it has lined up the financing for the project from banks.
BSNL operates mobile, fixed-line and Internet services in 20 of India's 22 telecommunications zones, while MTNL operates in the key Delhi and Mumbai zones.
MTNL is offering its customers in Mumbai five unlimited broadband plans with download speeds of up to 2Mbps from 12 a.m. to 8 a.m. at no additional charge.
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CNBC-TV18's economy editor Siddharth Zarabi reveals that cash-strapped Mahanagar Telephone Nigam Ltd (MTNL) is looking for new sources to raise revenue
In an attempt to get high speed broadband connection within the reach of the masses, Mahanagar Telephone ...