VIL allots 12,000 optionally convertible debentures to ATC Telecom Infra

Vodafone Idea Ltd (VIL) on Monday said it has allotted 12,000 optionally convertible debentures to ATC Telecom Infrastructure.

The balance 4,000 debentures will be allotted on receipt of application form and subscription money and due intimation of the same shall be filed as necessary, according to a regulatory filing.

"... it is hereby informed that the capital raising committee of the Board of Directors of Vodafone Idea Limited has, at its meetings held today that is 27 February, 2023, allotted a total of 12,000 number of unsecured, unrated and unlisted Optionally Convertible Debentures of the face value of Rs 10,00,000 each (OCDs) to ATC Telecom Infrastructure Private Limited," it said.

On February 25, VIL's shareholders approved the preferential issuance of up to Rs 1,600 crore of OCDs to American Tower Corp (ATC).

In this regard, the special resolution was cleared at an Extraordinary General Meeting (EGM) of Vodafone Idea held last week.

According to the voting results, overall 99.99 per cent of the votes were in favour of the resolution, which pertained to issue of optionally convertible debentures of up to Rs 1,600 crore to ATC.