Vodafone Idea: Agreed to extend the date of letter of credit of Rs 1600 crore till February 28
New Delhi. Debt-ridden Vodafone Idea and its vendor ATC Telecom Infrastructure have agreed to extend the last date for subscription of debentures worth Rs 1,600 crore to February 28.
The decision was taken in the absence of any response from the government on converting the outstanding interest into equity.
Vodafone Idea’s proposal to issue debentures worth Rs 1,600 crore to mobile tower vendor ATC Telecom Infrastructure had lapsed in the absence of a response from the government.
“The company and ATC have mutually extended the last date for subscription of OCD till February 28, 2023,” Vodafone Idea (VIL) said in a statement.
The statement also said that any other date can also be decided on a mutually agreed basis.