Vodafone Idea, ATC extend subscription date of Rs 1,600 cr OCDs to Feb 28
Debt-ridden 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 to February 28, the telecom operator said in a regulatory filing.
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.
"...the Company and ATC have mutually extended the last date for subscription of the OCDs to 28th February, 2023 or such later date as may be mutually agreed, subject to fulfillment of certain conditions precedent," Vodafone Idea (VIL) said in a filing.
The conditions for approval include nod of VIL shareholders and conversion of interest liability on the company arising from the deferment of Adjusted Gross Revenue (AGR) and Spectrum Dues into equity shares by the government.
Last month, shareholders of debt-ridden Vodafone Idea ..