Vodafone Idea Allots 12,000 Optionally Convertible Debentures To ATC Telecom Infrastructure

Vodafone Idea Ltd 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 Ltd. has, at its meetings held today that is Feb. 27, 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 to ATC Telecom Infrastructure Pvt. Ltd.," it said.

On Feb. 25, Vodafone Idea's shareholders approved the preferential issuance of up to Rs 1,600 crore of OCDs to American Tower Corp.

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

According to the voting results, overall 99.99% 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.