MUMBAI, Nov 28 (Reuters) - India's Mahanagar Telephone Nigam Ltd plans to raise at least 5 billion Indian rupees ($61.2 million) through the sale of government-guaranteed bonds maturing in 10 years, three merchant bankers said on Monday.

The state-run company has invited coupon and commitment bids from bankers and investors from 10:30 a.m. to noon IST on Wednesday and the bidding will take place on the BSE's electronic platform, they said.

The notes are rated AAA (CE) by India Ratings and CARE Ratings.

The issue will have a greenshoe option to retain an additional 25 billion rupees for which MTNL will pay a semi-annual coupon.

Earlier this month, MTNL raised 61.10 billion rupees through government-guaranteed bonds maturing in 10 years at a semi-annual coupon of 8.00%, in what was its first issuance in over two years. ($1 = 81.6850 Indian rupees) (Reporting by Bhakti Tambe; Editing by Savio D'Souza)