TT&A advised ATC Telecom Infrastructure Private Limited (“ATC”) in its investment of USD 196 million in Vodafone Idea Limited (“VIL”) towards subscription of up to 16,000 unsecured, unrated, unlisted, optionally convertible debentures in one or more tranches, which are convertible into equity shares at a conversion price of Rs. 10 per equity share. TT&A advised on structuring of the transaction, and in the drafting, negotiating and finalization of the Investment Agreement and review of the ancillary documents. The funds raised by VIL are to be utilized towards amounts owed by VIL to ATC under the master lease agreements and, to the extent of any remainder, for general corporate purposes of VIL.

TT&A Team: Gautam Saha & Amrita Patnaik – Partners