BSNL mulls to come out with IPO

The state owned Bharat Sanchar Nigam Limited (BSNL), the India's biggest phone company by revenues, is all set to make the most of the current boom in the stock markets and an initial public offering (IPO) is on the cards. But it is not just upto Kuldeep Goyal, the Chairman and Managing Director of BSNL, to take the call, the final decision lies with the government. BSNL's earlier attempt for a stock market listing failed to take off because the previous Telecom Minister, Dayanidhi Maran, rejected such proposal. The Communications Minister A Raja is more keen than his predecessor to list BSNL. BSNL is looking at diluting upto 20 per cent stake over the next 6-12 months. The company already accounts for about 47.3 million line basic telephone capacity, 4 million WLL capacity and more than 37,382 fixed exchange. BSNL's strength lies in its massive network that ranges from homes and PCOs in every Indian town from fishermen to farmers.
Source:Anonymous