GLAS creates encumbrance on 56.38 percent VAML shares under USD 2.25bn facility
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GLAS Agency (Hong Kong) filed a SEBI Regulation 29 disclosure for creation of encumbrance over 2,204,724,753 VAML shares (56.38 percent) under a 20 July 2026 Facility Agreement for up to USD 2.25 billion (current commitment USD 1.545bn). Lenders include Barclays, Citigroup, JPMorgan, Standard Chartered, and others. VRL group must retain at least 50.1 percent ownership in VAML. GLAS is not part of promoter group. Earlier encumbrances on the same shares were disclosed on 15 and 17 July 2026.
Promoter group pledges majority VAML stake as loan collateral. Promoters must retain 50.1 percent minimum. No change in actual shareholding.