Vodafone-atc Deal

ATC Telecom Infra exits Vodafone Idea, sells entire stake for Rs 1,840 cr

ATC Telecom Infrastructure on Friday sold its entire 2.87 per cent stake in telecom operator Vodafone Idea for Rs 1,840 crore through an open market transaction. American Tower Corporation (ATC) Telecom Infrastructure is one of the largest infrastructure service providers for Vodafone Idea. According to the bulk deal data available on the National Stock Exchange (NSE), ATC Telecom Infrastructure Pvt Ltd sold a total of 144 crore shares, representing a 2.87 per cent stake in Vodafone Idea (VIL). The shares were disposed of at an average price of Rs 12.78 apiece, taking the deal size to Rs 1,840.32 crore. ATC Telecom Infrastructure held a 2.87 per cent stake in VI as it has recently converted debentures into equities. Meanwhile, Citigroup Global Markets Mauritius acquired more than 49.12 crore shares, amounting to a 0.98 per cent stake in VIL. The shares were bought at an average price of Rs 12.70, taking the deal value to Rs 623.88 crore. However, Citigroup Global Markets Mauriti

ATC opts to convert Rs 1,440 crore Voda Idea debt bonds into equity

Move to marginally reduce Vi's debt burden, ATC to continue holding Rs. 160 crore Vi OCDs

Vodafone board to discuss Rs 1,600 cr debenture issue for ATC on Jan 31

Debt-ridden Vodafone Idea's board will meet on Tuesday to discuss a proposal to issue Rs 1,600 crore debentures to mobile tower vendor ATC Telecom Infrastructure. Vodafone Idea (VIL) and ATC had agreed to extend the last date to issue optionally convertible debentures (OCD) till February 28 after the shareholder's approval to issue the debentures lapsed in December. "We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, 31st January 2023, in relation to the said preferential issue of OCDs to ATC and to convene the Extraordinary General Meeting of the Company to seek approval of the shareholders in this regard," VIL said in a regulatory filing. The shareholders' nod to issue OCD within 15 days of approval of the proposal had lapsed in the absence of any response from the government on the conversion of interest dues into equity. On November 21, shareholders of debt-ridden Vodafone Idea (VIL) approved issuing OCDs worth Rs .

Voda Idea gets board approval to raise Rs 1,600 crore from ATC Telecom

Loss-making telecom operator Vodafone Idea board on Friday approved a proposal to raise up to Rs 1,600 crore from mobile tower company ATC Telecom Infrastructure, the company said in a regulatory filing. "The Board of Directors of Vodafone Idea Limited at its meeting held today - October 21, 2022 - has, inter-alia, approved issuance of up to 16,000 Indian Rupee denominated optionally convertible, unsecured, unrated and unlisted debentures having a face value of Rs 10,00,000 each, in one or more tranches, aggregating up to Rs 1,600 crores, convertible into equity shares at a conversion price of Rs 10 per equity share, to ATC Telecom Infrastructure Private Limited," VIL said. The optionally convertible, unlisted, unsecured and unrated debentures (OCDs) will carry a coupon rate of 11.2 per cent per annum, payable semi-annually during its term. "Maximum OCD term of eighteen (18) months from the date of issue and allotment of the first tranche of OCDs," the filing said.

ATC completes Rs 38-billion mobile tower deal with Vodafone India

According to government sources, the merger of Idea and Vodafone will be cleared after the closure of Idea's pending deal with ATC