The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Axis Trutee Services Ltd
HINDZINC · price
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Axis Trustee Services Limited (GIFT City Branch), acting as agent for JPMorgan Chase Bank N.A., has filed a disclosure under SAST Regulations. This relates to an external commercial borrowing of US$125 million by Vedanta Limited. As per the facility agreement dated April 14, 2026, Vedanta is required to maintain at least 50.1% beneficial ownership and control of Hindustan Zinc Limited until the loan is fully repaid. Vedanta is also restricted from creating security over or disposing 50.1% of HZL shares. The filing shows existing encumbrances: 87,424,402 shares (2.07%) are pledged, and 2,116,884,819 shares (50.10%) are subject to non-disposal undertakings under various facilities. The document clarifies that no new pledge was created for this facility - the encumbrance is a covenant in the loan agreement.
This is a routine disclosure related to Vedanta's loan covenant requiring it to maintain control of HZL. No change in actual shareholding or pledge levels. The non-disposal undertaking ensures Vedanta retains its majority stake in HZL as a condition of the borrowing.