Vodafone Idea’s (VIL) shareholders have approved issuing shares worth Rs 1,600 crore to ATC Telecom Infrastructure on a preferential basis. VIL is raising the amount through equity convertible debt bonds that carry a coupon rate of 11.2 per cent per annum payable every six months during its term. The funds raised would be used to pay amounts owed to ATC under the master lease agreements and for general corporate purposes.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
