News > Tata Teleservices (Maharashtra) withdraws Govt equity conversion plan

Tata Teleservices (Maharashtra) withdraws Govt equity conversion plan

Tata Teleservices (Maharashtra) (TTML) has decided not to convert its accrued interest on deferred AGR dues into government equity.

"As the interest amount eligible for conversion is much lesser than as expected and calculated by the company, the Board of Directors of the company, in its meeting held on February 1, 2022 has decided to withdraw the desire expressed for conversion and inform DoT that the Company is not desirous of opting for conversion of interest into equity," said the telco in a regulatory statement on Tuesday.