Vodafone Idea share price: VIL recently said it has extended the redemption period of 8,000 optionally convertible debentures (OCDs) – out of the 16,000 OCDs issued to American Tower Corp's India unit (ATC Telecom Infrastructure Pvt Ltd) – to 18 months from the allotment date, instead of the previous 6-month deadline.
Vodafone Idea (Vi) has extended the redemption period of 8,000 optionally convertible debentures (OCDs) – out of the 16,000 OCDs issued to American Tower Corps India unit (ATC Telecom Infrastructure Pvt Ltd) – to 18 months from the allotment date, instead of the earlier six-month deadline.
Last month, Boston-based ATC had informed the US Securities and Exchange Commission (SEC) that Vis OCDs would mature in two tranches of Rs 800 crore each on August 27, 2023 and August 27, 2024. That has now changed.
Vodafone Idea (Vi) has extended the redemption period of 8,000 optionally convertible debentures (OCDs) – out of the 16,000 OCDs issued to American Tower Corps India unit (ATC Telecom Infrastructure Pvt Ltd) – to 18 months from the allotment date, instead of the earlier six-month deadline.
“Basis Vis disclosures, it faces large payouts in 2QFY24.of the estimated Rs 4,300 crore outgo, Rs 2,600 crore is towards debt repayments (maturing) and a Rs 1,700 crore instalment related to 5G spectrum, which may exert pressure on payments to Indus, unless Vi raises funds,” IIFL Securities said in a note.