Corporate News
Vedanta Limited disclosed encumbrances on its shares of Hindustan Zinc Limited, a subsidiary, resulting from the issuance of debentures and a related Debenture Trust Deed with Axis Trustee Services Limited and a group of debenture holders. The disclosure, required under Securities and Exchange Board of India (SEBI) regulations, stems from a debenture financing totaling Rs 80,000 crore used to take over existing syndicated term loan facilities. As a condition of the financing, Vedanta must maintain 50.1% ownership and control of Hindustan Zinc, restricting certain actions regarding the subsidiary’s shares. Several pledge releases occurred between September 2023 and September 2026, involving SBICAP Trustee Company Limited, with a total of 1,203,148,979 shares released. The debentures, with credit ratings from CRISIL and ICRA, are listed on the BSE Limited and have face values ranging from Rs 100,000 per debenture.