BSNL IPO - again - coming soon ?

BSNL will approach the government next week to carry forward the plan for divesting 10% equity through initial public offer.

BSNL chairman & MD Kuldeep Goyal said that to resume the formal dialogue with the opposing employee unions and to start the standard process like appointment of an investment banker, BSNL needs approval from the government which is still to come.

Recently, telecom minister A Raja who had earlier initiated talks with the union in his previous stint at the ministry asked the BSNL management to hold dialogue with the employees.

BSNL employees union is opposing the listing saying it is not in the interest of the company.

The new UPA regime is keen on BSNL`s listing and hopes that a 10% stake dilution in the company will fetch over Rs 400 billion.