Equity issue to govt is precondition for Vodafone Idea debenture issue

Last Friday, firm's Vi decided to issue 16,000 OCDs to American Tower Corporation and raise Rs 1,600 cr. Company has convened EGM on November 21 to approve the plan

Vodafone Idea

The notice states that Vi will have right to convert upto 8000 OCDs into equity shares if the share price of company for agreed period is equal or higher than price agreed by Vi and ATC

Aneesh Phadnis Mumbai
Vodafone Idea (Vi) will have to issue equity shares to the government prior to issuing optionally convertible debentures (OCDs) to American Tower Corporation.

Last Friday, the board of Vi decided to issue 16,000 OCDs to the tower company and raise Rs 1,600 crore. Vi has convened an extraordinary general meeting (EGM) of shareholders on November 21 to approve the plan.

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First Published: Oct 28 2022 | 7:00 PM IST

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