Vodafone Idea converts ATC India’s residual OCDs into equity

Vodafone Idea (Vi) has converted all the optionally convertible debentures (OCDs) issued by it to the India unit of American Tower Corp (ATC) into fully paid equity shares.

The conversion follows ATC calling on Vi yesterday to convert the remaining 1,600 OCDs – out of the 16,000 originally issued to it by the telco — into 160 million fully-paid equity shares.

“In this regard, we wish to inform you that the capital raising committee of the company has today (i.e. July 12, 2024), allotted 16,00,00,000 equity shares of face value of Rs10/- each at an issue price of Rs 10/- per equity share to current OCD holders, pursuant to the conversion of 1600 OCDs,” Vi said in a BSE filing Friday.