ATC to convert Optionally Convertible Debentures (OCDs) issued by VIL amounting to Rs 14.4 billion into 144 crore fully paid-up equity shares of Vodafone VIL

 

Vodafone Idea Limited (VIL) had issued Optionally Convertible Debentures (OCDs)
amounting to Rs.16 billion to ATC Telecom Infrastructure Private Limited (ATC) in
February 2023 post receipt of approval from the shareholders and requisite intimation to
stock exchanges. Further to this, in the month of August 2023, term of redemption of the
first tranche of OCDs amounting to Rs.8 billion was extended by 12 months.

Now, as per the terms of the OCDs, on March 18, 2024 ATC has requested VIL for
conversion of 14,400 OCDs amounting to Rs.14.4 billion into 144,00,00,000 (One
Hundred and Forty-Four Crore) fully paid-up equity shares of face value of INR 10 each.
VIL will take necessary actions to allot the equity shares to ATC pursuant to the
conversion of the said OCDs, as per the terms of the OCDs.

ATC is one of the largest infrastructure service providers for VIL and both entities have a
long-term relationship. In the spirit of this partnership, ATC subscribed to OCDs
amounting to Rs.16 billion, proceeds of which were primarily utilised against payment of
dues to ATC. The conversion price of Rs.10, at the time of OCD issuance, was at a
premium to the then prevailing market price of VIL share.

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