Vodafone Idea evaluating govt’s option to convert interest dues into equity: CFO

New Delhi: Debt-ridden telecom operator Vodafone Idea is evaluating the option of converting interest dues arising out of the deferment of statutory payments into equity, a senior company official said on Monday. The company is also in talks with banks and investors for raising funds and part of the proceeds is likely to be utilised towards meeting obligations related to debt maturing this fiscal, Vodafone Idea Limited (VIL) Chief Financial Officer Akshay Moondra said during the company’s earning call.

The government has given the option to defer all their dues payment for spectrum and Adjusted Gross Revenue (AGR) by four years to provide debt-ridden telecom companies an opportunity to improve their cash flows and invest in business.