ATC India pushes Vodafone Idea to convert remaining OCDs into equity shares

Kolkata: The India unit of American Tower Corp (ATC) has called on Vodafone Idea (Vi) to convert the remaining 1,600 optionally convertible debentures (OCDs) – out of the Rs 16,000 originally issued to it by the telco — into 16 crore fully-paid equity shares, or a tiny 0.2% stake.

Vi, the telecom JV between UK’s Vodafone Group Plc and India’s Aditya Birla Group, on Thursday said it’s taking suitable steps to make the allotment to the US tower company that recently sold its Indian towers business to Canada’s Brookfield.