The state-run telecommunication services company has invited bids from bankers and investors on Thursday, they said.
The notes are rated AAA (CE) by India Ratings and CARE Ratings<\/a>, and the issue will close for subscription on Friday.
The issue has a greenshoe option to retain an additional 3.25 billion rupees.
Earlier this month, the company had raised 16.18 billion rupees at a 7.78% semi-annual coupon, while in November, MTNL<\/a> had raised 27.58 billion rupees and 61.10 billion rupees in two offerings at semi-annual coupons of 7.87% and 8.00%, respectively.
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