ATC converts OCDs worth Rs 1.6 billion issued by Vi to equity

ATC Telecom Infrastructure has converted optionally convertible debentures (OCDs) worth Rs 1.6 billion, issued by Vodafone Idea Limted (Vi) in lieu of payments, into equity.

Vi had issued OCDs worth Rs 16 billion to ATC. This is because Vi has not been able to pay for rentals of mobile towers. However,ATC has already converted OCDs worth Rs 14.4 billion into equity in March 2024.