New Delhi: Mobile tower company ATC Telecom Infrastructure has converted Rs 160 crore of optionally convertible debentures issued by Vodafone Idea into equity in lieu of payment, it said in a regulatory filing on Thursday.
Debt-laden telecom operator Vodafone Idea (VIL) had issued Optional Convertible Debentures (OCDs) worth Rs 1,600 crore to ATC as it failed to pay rent for mobile towers.
ATC has already converted OCD worth Rs 1,440 crore into equity in March.
“We wish to inform you that as per the terms of the OCD, the Company has received a conversion notice from the existing OCD holders (ATC) into fully paid equity shares of face value Rs 16,00,00,000 in respect of 1,600 OCDs outstanding from VIL. Rs 10 at the conversion price of Rs 10 per equity share, it said in the filing.
Last month, VIL had allotted shares worth Rs 2,458 crore to sellers Nokia India and Ericsson India to partially repay dues.
As of March 31, 2024, the total debt of the company was about Rs 2,07,630 crore.
Shares of VIL closed at Rs 16.56, down 0.48 per cent from its previous close on BSE.
Debt-laden telecom operator Vodafone Idea (VIL) had issued Optional Convertible Debentures (OCDs) worth Rs 1,600 crore to ATC as it failed to pay rent for mobile towers.
ATC has already converted OCD worth Rs 1,440 crore into equity in March.
“We wish to inform you that as per the terms of the OCD, the Company has received a conversion notice from the existing OCD holders (ATC) into fully paid equity shares of face value Rs 16,00,00,000 in respect of 1,600 OCDs outstanding from VIL. Rs 10 at the conversion price of Rs 10 per equity share, it said in the filing.
Last month, VIL had allotted shares worth Rs 2,458 crore to sellers Nokia India and Ericsson India to partially repay dues.
As of March 31, 2024, the total debt of the company was about Rs 2,07,630 crore.
Shares of VIL closed at Rs 16.56, down 0.48 per cent from its previous close on BSE.
