Update on Mahanagar Telephone Nigam Ltd (MTNL)

 As per news reports, Mahanagar Telephone Nigam Ltd (MTNL) has not been able to transfer sufficient funds to an escrow account for the payment of semi-annual interest coupon of one of its bond that is scheduled to be paid on 20^th July 2024.

 

As per the agreement, the escrow account was supposed to be funded on T-10 day basis from coupon date. If entity is not able to fund then GOI will be funding the escrow account for coupon payment on T-3 Day basis i.e. on 17^th July 2024.

 

We are closely monitoring the situation and will keep you updated on the developments.

 

 

Below is the MF exposure of MTNL as on 30^th June 2024:

 

Row Labels	Market Value (Rs. Crs.)
Axis Mutual Fund	478.62
HDFC Mutual Fund	850.64
ICICI Prudential Mutual Fund	934.10
Kotak Mahindra Mutual Fund	102.26
Mirae Asset Mutual Fund	28.84
Nippon India Mutual Fund	214.07
PGIM India Mutual Fund	1.30
SBI Mutual Fund	730.32
Grand Total	3340.15

 

All the bonds are rated AAA(CE) and are backed by Government of India.