The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Axis Trustee Services Ltd
HINDZINC · price
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Axis Trustee Services Ltd, acting as debenture trustee, disclosed the release of encumbrance (pledge) over 32,32,11,858 equity shares of Hindustan Zinc Ltd, equal to 7.65% of the company's share capital. The release was carried out in four tranches: June 5, 2024 (2.40 crore shares, 0.57%), July 31, 2024 (10.32 crore shares, 2.44%), August 6, 2024 (5.65 crore shares, 1.34%), and April 3, 2025 (13.94 crore shares, 3.30%). Post-release, the pledged shares reduced sharply from 8.66% (36.60 crore shares) to just 1.01% (4.28 crore shares) of total share capital. Encumbrance through covenants under various facilities remains unchanged at 50.10%.
This is a positive signal for Hindustan Zinc shareholders as it reflects a significant reduction in pledged encumbrance (from 8.66% to 1.01%), lowering risk perception around the stock. However, Axis Trustee is a debenture trustee and not a promoter, so this does not change promoter holdings or core ownership structure.