New Delhi: The state-run telecom firm BSNL has raised more than Rs 8,500 crore through sovereign guarantee bonds with government funds and PSU banks participating in the issue and is planning to monetise assets Rs 18,000 crore within a year.

According to BSNL CMD PK Purwar, the loss making company is expected to become operationally profitable in the financial year 2021. “We opened the bond issue at 10.30 am and closed at 12 pm. The bond was subscribed over two times. We were able to get bids of over Rs 17,170 crore but we accepted only Rs 8,500 crore as per the approved bond size,” he said.

In a statement, the BSE said the BSNL made its first-ever bond issue successfully and raised Rs 8,500 crore by issuing bonds on private placement basis using BSE BOND platform.

The BSNL saw the participation of ICICI Prudential Bond, National Pension Scheme, Postal Life Insurance Rural Postal Life Insurance, State Bank of India, Punjab National Bank, and so on. The SBI has participated in a big way. The State Bank of India has directly contributed Rs 1,500 crore.

 Purwar said the BSNL has identified 14 assets which will be monetised and out of which 11 assets have been given in-principle approval by an inter-ministerial group. “The value of those assets is around Rs 18,000 crore. Those assets are proposed to be monetised in the current 12 months period,” he said. /BI/