topStoriesenglish2525150

Voda Idea gets board nod to raise Rs 1,600 cr from ATC via equity convertible debt bonds

The optionally convertible, unlisted, unsecured and unrated debentures (OCDs) will carry a coupon rate of 11.2 per cent per annum, payable semi-annually during its term.

  • Vodafone Idea board approved a proposal to raise up to Rs 1,600 crore from mobile tower company ATC Telecom Infrastructure
  • The Board of Directors of Vodafone Idea Limited held its meeting on October 21
  • The convertible, unsecured, unrated and unlisted debentures will have a face value of Rs 10,00,000 each

Trending Photos

Voda Idea gets board nod to raise Rs 1,600 cr from ATC via equity convertible debt bonds

Loss-making telecom operator Vodafone Idea board on Friday approved a proposal to raise up to Rs 1,600 crore from mobile tower company ATC Telecom Infrastructure, the company said in a regulatory filing. 

"The Board of Directors of Vodafone Idea Limited at its meeting held today - October 21, 2022 - has, inter-alia, approved issuance of up to 16,000 Indian Rupee denominated optionally convertible, unsecured, unrated and unlisted debentures having a face value of Rs 10,00,000 each, in one or more tranches, aggregating up to Rs 1,600 crores, convertible into equity shares at a conversion price of Rs 10 per equity share, to ATC Telecom Infrastructure Private Limited," VIL said.

Also Read: Dhanteras 2022: Five safe ways to invest in 24-carat digital gold sitting at home

The optionally convertible, unlisted, unsecured and unrated debentures (OCDs) will carry a coupon rate of 11.2 per cent per annum, payable semi-annually during its term.

"Maximum OCD term of eighteen (18) months from the date of issue and allotment of the first tranche of OCDs," the filing said.

Live Tv

Trending news