Vodafone Idea allots 12,000 optional convertible notes to ATC Telecom Infrastructure

Vodafone Idea Ltd (VIL) announced on Monday that it had allotted 12,000 optional convertible notes to ATC Telecom Infrastructure.

The remaining 4,000 debentures will be allotted upon receipt of the application form and subscription monies and due notice thereof will be filed as required pursuant to a regulatory filing.

“…It is hereby notified that the Capital Raising Committee of the Board of Directors of Vodafone Idea Limited, at its meetings held today, 27 February 2023, has allotted an aggregate of 12,000 unsecured, unrated and unlisted Option Convertible Notes of a nominal value of 10.00 each. 000 Rs (OCDs) to ATC Telecom Infrastructure Private Limited,” it said.

On February 25, VIL shareholders approved the preferential issuance of OCDs worth up to Rs 1,600 crore to American Tower Corp (ATC).

In this regard, the special resolution was approved at a Vodafone Idea Extraordinary General Meeting (EGM) held last week.

According to the voting results, a total of 99.99 percent of the votes were in favor of the resolution