Vodafone Idea and its vendor ATC Telecom Infrastructure have agreed to extend the last date for subscription of Rs 1,600 crore optionally convertible debentures (OCDs) to February 28. Vodafone Idea's proposal to issue Rs 1,600 crore debentures to mobile tower vendor ATC Telecom Infrastructure has lapsed in the absence of any response from the government on the conversion of interest dues into equity.
Last month, shareholders of debt-ridden Vodafone Idea approved issuing optionally convertible debentures (OCDs) worth Rs 1,600 crore to ATC Telecom Infrastructure on a preferential basis to settle dues of the infrastructure vendor by converting the due amount into equity, if the amount remained unpaid in 18 months. It was also subject to approval of the government.
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.
Company Name | CMP |
---|---|
Bharti Airtel | 1325.50 |
Vodafone Idea | 14.01 |
Indus Towers | 353.25 |
Tata Communications | 1753.55 |
Bharti Hexacom Ltd. | 894.85 |
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