BSNL plans mega-IPO of Rs 40,000 crore (Business Stndard 15th Jan 2008) Government-owned companies make a market splash. State-owned Bharat Sanchar Nigam Ltd (BSNL) is preparing for the country’s largest initial public offering (IPO) of around $10 billion (Rs 40,000 crore) slated sometime next year. The issue has been discussed by the board and is awaiting government clearance. The plan is to divest 10 per cent through the IPO, which values India's largest telecom company at $100 billion (Rs 400,000 crore), which is larger than the combined market capitalisation of Bharti Airtel at $46 billion (Rs 183,283 crore) and Reliance Communications (RCom) at $41 billion (Rs 163,683 crore), respectively the second- and third- largest telecom companies. More
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