Bharat Sanchar Nigam Limited (BSNL), the state-run telecom operator in India, is looking to raise funds in the near future by selling its surplus properties in prime locations. BSNL has listed around 13 properties on the MSTC website for auction. Interested parties can submit their bids to the telco by December 5, 2022. There are a total of 13 properties in five different states, including Gujarat, Telangana, Uttar Pradesh, Madhya Pradesh and Andhra Pradesh.
BSNL has not been making money for a long-time now. The state-run telco had identified over 14 different properties worth Rs 20,160 crore and had submitted the list of sales to the Department of Investment and Public Asset Management (DIPAM). Earlier this year, the Indian government announced a Rs 1.64 lakh crore relief package for BSNL.
As of now, BSNL is making efforts to launch 4G across India via homegrown technology. The state-owned telco would require the funds to place the order for equipment and maintenance of the networks. According to a PTI report, BSNL has more properties in the pipeline. As the initial properties get sold, BSNL will look to sell other properties as well.
