National Securities Depository Ltd is pressing ahead with its plan for an initial public offering that is expected to raise about $400 million, according to people familiar with the matter.
Cabinet Secretary TV Somanathan will convene a meeting next week to address the financial woes of MTNL, which faces significant loan defaults totaling ₹8,346 crore to state-run banks. The meeting aims to devise a revival strategy, focusing on asset monetization and potential business model adjustments, while exploring short-term measures to tackle immediate loan defaults and long-term solutions for minimizing losses.