The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on March ....
HINDZINC · price
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Vedanta Limited, the promoter of Hindustan Zinc Ltd (HZL) with a 60.71% stake (about 256.5 crore shares), has created a new encumbrance on 211.69 crore HZL shares (50.10% of total share capital) in favour of Axis Trustee Services Limited. This encumbrance is a non-disposal undertaking linked to a new ₹2,575 crore unsecured, listed, rated, redeemable, non-convertible debenture issuance on March 12, 2026, with CRISIL/ICRA rating (ISIN: INE205A08095). Vedanta is required to maintain at least 50.1% direct ownership and control in HZL until the debentures are fully redeemed. The total encumbered promoter shares now stand at 235.9 crore shares (55.83% of HZL's share capital), representing 91.96% of the promoter's own shareholding in HZL.
This is a disclosure of a new non-disposal undertaking rather than a fresh share pledge, so no new shares are being encumbered beyond what is already pledged. However, it signals that Vedanta is further leveraging its HZL stake to raise debt, and the heavy encumbrance of 91.96% of its HZL holding raises concentration risk for retail investors if Vedanta faces financial stress.