MTNL was setup on 1st April, 1986 by the Government of India to upgrade the quality of telecom services, expand the telecom network, introduce new services and to raise revenue for telecom development needs of India �s key metro cities of Delhi & Mumbai. MTNL is the principal provider of fixed-line telecommunication service in the two Metropolitan Cities of Delhi and Mumbai. It offers mobile servi
ces in the city of Delhi including four peripheral towns Noida, Gurgaon, Faridabad & Gaziabad and the Mumbai city along with the areas falling under the Mumbai Municipal Corporation, New Mumbai Corporation and Thane Municipal Corporation. The Paid up Share Capital is Rs. 630 crores divided into 63 crore share of Rs. 10 each. At present, 56.25% equity shares are held by President of India & her nominees and remaining 43.75% shares are held by FIIs, Financial Institutions, Banks, Mutual Funds and others including individual investors. MTNL has been given Navratna status in 1997 and was listed in New York Stock Exchange in 2001
