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Mahanagar Telephone Nigam Limited ( (IN:MTNL) ) has shared an update.
Mahanagar Telephone Nigam Limited (MTNL) has announced that it will not be able to fund the 9th semi-annual interest payment for its 7.05% Bond Series V due on April 12, 2025, due to insufficient funds. Despite the bonds being sovereign guaranteed by the Government of India, the company has failed to deposit the necessary amount into the escrow account as per the Tri-Partite Agreement, which could lead to the invocation of the sovereign guarantee by the debenture trustee.
More about Mahanagar Telephone Nigam Limited
Mahanagar Telephone Nigam Limited (MTNL) is a government-owned enterprise in India, primarily operating in the telecommunications industry. It provides a range of telecom services, including fixed-line telephony, mobile services, and internet connectivity, with a focus on urban areas such as Delhi and Mumbai.
YTD Price Performance: -11.48%
Average Trading Volume: 874,863
Current Market Cap: 27.15B INR
Learn more about MTNL stock on TipRanks’ Stock Analysis page.