Voda and ATC agree to extend last date for 1600 cr debentures

Debt-ridden Vodafone Idea and its vendor ATC Telecom Infrastructure have agreed to extend the last date for the 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 conditions for approval include the 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.