Support Telecomtalk
Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Vodafone Idea (Vi) and American Tower Corporation (ATC) have agreed to extend the redemption of 1st tranche of OCD (optionally convertible debentures) to 18 months from 6 months. As per the initial agreement, the first tranche of the OCD was supposed to be redeemed on a six-month deadline on August 28, 2023. But that has been extended to 18 months, per the agreement of both companies, said Vi in an exchange filing on Monday morning.
- Make Telecom Talk My Trusted Source
-
-
The telco issued OCDs worth Rs 1600 crore to the ATC as it was finding it hard to pay back its dues. The OCDs are supposed to be executed in two tranches of Rs 800 crore each.
Read More – Vodafone Idea Most Affordable Recharge Plan in 2023
Vodafone Idea’s stock price has zoomed in the last couple of days due to talks about possible fundraising soon. There were reports that Vi is talking to potential investors and already has terms sheets from some of them. Due to that, Vi’s stock gained a lot of momentum and is now trading at a much better value.
Read More – Vodafone Idea May Finalise Funding in 7 to 10 Days: Report
However, hopefully, the telco will be able to secure a significant amount of money through the fundraising. Any amount that doesn’t help the business both increase capex and pay off debt is insignificant. Vi needs to invest more in its networks so that it can retain existing customers and also acquire new ones.
