BSNL divestment on hold

The Union telecom secretary Siddharth Behuria said,the immediate possibility of IPO launch has been ruled out.In reply to the statement of state minister for IT and telecom,  Scindia in Rajya Sabha on BSNL IPO plans on course.He said the market is not in good condition to launch IPO,the department will wait till the market return to its bullish days.

Concurring with the IT secretary statement, Kuldeep Goyal,  said the company has already submitted the required documents regarding 10% divestment and it is the ministry’s turn to take a call over the issue. Earlier, the IT ministry has made a rough valuation on BSNL as $100 billion company generating Rs 40,000 crore in cash in the offloading of 10% stake.