BSNL wants IPO pushed back to 2007

27 Mar 2006

Indian state-run telco BSNL has asked the government to refrain from launching the company’s long-awaited IPO for at least a year, ‘to ensure conformity of its accounts with the listing requirements.’ BSNL is wholly state-owned, but the government has been considering offloading a small stake for some time, possibly as a precursor to a takeover of its smaller sister, MTNL, and the flotation of a new holding company in which the shares of both firms would be vested.

India, Bharat Sanchar Nigam Ltd (BSNL),

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