BSNL raises Rs 8,500 cr via sovereign bonds

New Delhi, Sep 21 State-run BSNL on Monday raised Rs 8,500 crore through sovereign guaranteed bonds.

"BSNL offered government guaranteed unsecured, redeemable, listed, taxable, non-convertible debentures of face value of Rs 10 lakh each at par, with option to retain oversubscription upto Rs 7,500 crore, aggregating to total issue size of Rs 8,500 crore, on private placement basis through BSE's Electronic Bidding Platform (EBP)," a BSNL statement said.

The bidding was held on Monday between 10.30 a.m. and 12 p.m. At the close of bidding, bids worth Rs 17,183.10 crore were received from 229 investors.

The issue was oversubscribed 2.02 times of the total issue size.

The fundraising is part of the revival package of BSNL announced by the government last October.

( With inputs from IANS )