Vodafone Idea and ATC extend the deadline for issuance of Rs1,600 crore OCDs to the latter

12 Dec 2022 , 09:30 AM

The final day to subscribe for the Rs1,600 crore of optionally convertible debentures has been extended to February 28 by Vodafone Idea and its supplier ATC Telecom Infrastructure, the telecom operator said in a regulatory filing.

In the absence of a response from the government regarding the conversion of interest dues into equity, Vodafone Idea’s plan to issue Rs 1,600 crore in debentures to ATC Telecom Infrastructure, a vendor of mobile towers, has expired.

In a filing, Vodafone Idea (VIL) stated that “the Company and ATC have jointly extended the last date for subscription of the OCDs to February 28, 2023, or such later date as may be mutually agreed, subject to fulfillment of certain precedent conditions.”