Vodafone board to discuss Rs 1,600 cr debenture issue for ATC on Jan 31

Debt-ridden Vodafone Idea’s board will meet on Tuesday to discuss a proposal to issue Rs 1,600 crore debentures to mobile tower vendor ATC Telecom Infrastructure.

Vodafone Idea (VIL) and ATC had agreed to extend the last date to issue optionally convertible debentures (OCD) till February 28 after the shareholder’s approval to issue the debentures lapsed in December.

“We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, 31st January 2023, in relation to the said preferential issue of OCDs to ATC and to convene the Extraordinary General Meeting of the Company to seek approval of the shareholders in this regard,” VIL said in a regulatory filing.