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Indus Towers accepts Vodafone Idea's payment plan for its dues

Indus Towers posted a net profit of Rs 872 crore in the second quarter of the fiscal year (FY2023) on a revenue of Rs 7,967 crore

Vodafone Idea
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Vodafone Idea

Aneesh Phadnis Mumbai
Indus Towers on Friday said that they have accepted Vodafone Idea’s (Vi) payment plan for its dues while not opting for the telco’s proposal of optionally convertible debentures (OCDs).

Vi had earlier submitted a payment plan which has been approved by the tower company’s board. “We have not considered the option of convertible debentures. We want to see the payment plan materializing,” the company’s Chief Financial Officer Vikas Poddar said.

Last Friday, Vi’s board decided to issue OCDs worth Rs 1,600 crore to American Tower Corporation. The funds raised will be used to clear dues of the tower company.

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First Published: Oct 28 2022 | 7:09 PM IST

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