Vodafone Idea raises fund from ATCIDEA - 13 Change: 0.15 (1.14 %)
Vodafone Idea (Vi) approved a proposal to raise up to Rs 1,600 crore from mobile tower company ATC Telecom Infrastructure via optionally convertible debentures (OCDs) and use the proceeds to pay the dues of the tower company.
Media reports indicate that ATC has dues of Rs 3000 crore from VIL. Vi’s inability to raise funds has hindered its payments to vendors and also the rollout of 5G service. Thus, this money would largely to retire dues and 5G launch uncertainty remain.