Voda Idea weighing option to convert dues into equity

New Delhi, November 15

Debt-ridden telecom operator Vodafone Idea is evaluating the option of converting interest dues arising out of the deferment of statutory payments into equity, a senior company official said on Monday.

In talks to raise funds

The company is also in talks with banks and investors for raising funds and part of the proceeds is likely to be utilised towards meeting obligations related to debt maturing this fiscal — Akshay Moondra, CFO, Vodafone idea

The government has given the option to defer all their dues payment for spectrum and AGR by four years to provide debt-ridden telecom companies an opportunity to improve their cash flows and invest in business.

“For the AGR dues, we are in discussion with the DoT to determine the final amount in line with the Supreme Court judgment,” he said. — PTI