Vodafone Idea board OKs reissuance of OCDs worth Rs 1600 cr to ATC

The Vodafone Idea (Vi) board has approved the planned preferential issue of optionally convertible debentures (OCDs) to US-based American Tower Corp (ATC), after the telco missed the deadline for the same for a second time earlier in the month.

“Vodafone Idea Limited, at its meeting held today i.e. 31 January, 2023, has again approved Preferential Issuance of upto 16000 Indian Rupee denominated optionally convertible, unsecured, unrated and unlisted debentures having a face value of Rs. 10,00,000 each, in one or more tranches, aggregating upto Rs.1600 crores, convertible into equity shares at a conversion price of Rs. 10/- per equity share, to ATC, a non-promoter of the Company quote,” the telco informed the Bombay Stock Exchange.