The deadline to subscribe for the Rs 1,600 billion OCDs has been extended by Vodafone Idea and ATC to February 28.

According to a regulatory filing made on December 10, Vodafone Idea Ltd (VIL) and American Tower Corporation (ATC) have agreed to extend the deadline for subscribing to optionally convertible debentures (OCDs) in the telecom company, worth Rs 1,600 crore, till February 28, 2023.

However, there would still be some restrictions on the purchase of OCDs, including shareholder approval of VIL.

Notably, the government has provided telecom operators the choice to pay the interest for the postponed spectrum payments and AGR obligations for a period of four years by converting the NPV of the interest amount into equity.

This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.