Vodafone Idea to not use ₹2,826 cr from rights issue for spectrum payments

Vodafone Idea's board has approved the modification of the usage of its ₹25,000-crore rights issue proceeds to pay ₹2,826 crore towards loan repayment and redemption of non-convertible debentures. Earlier, this amount was to be a part of the ₹18,674.7-crore deferred payment liability to the Department of Telecommunications but the government deferred the spectrum payment for two years.