In an exchange filing, Vodafone Idea Limited (Vi) has informed that it has extended the redemption period for 8,000 optionally convertible debentures (OCDs) out of the Rs 16,000 given to American Tower Corporation’s (ATC) India arm, ATC Telecom Infrastructure Private Limited, from the initial six months to a new timeframe of 18 months from the date of allotment.
The decision is a relief for Vi, which yet needs to secure the funds needed to pay vendors, the government, increase its 4G coverage, and invest in its upcoming 5G rollout.
Furthermore, according to the Department of Telecommunications (DoT), Vi is getting closer to completing its long-delayed equity financing and has term sheets from multiple potential investors.
