Promoter encumbrance on VAML shares linked to USD 1.75 bn Vedanta bonds
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Vedanta Resources disclosed encumbrance on 2,20,47,24,753 VAML shares, equal to 56.38 percent of total share capital and 99.99 percent of promoter holding. Five promoter entities (Twin Star, Welter Trading, VHM II, VHM, Vedanta Netherlands) are covered. The filing relates to USD 1.75 billion bonds issued by Vedanta Resources Finance II PLC on June 25, 2026, due 2032, 2034 and 2037. GLAS Agency Hong Kong acts as security trustee. VRL clarifies no new pledge was created; encumbrance already subsists from prior facility agreements. Proceeds will repay existing bonds and service debt. Ratings: Ba3 (Moodys), BB (Fitch), BB minus (S&P).
No new pledge created; existing encumbrance on 56.38 percent of shares continues. Bond covenants restrict share disposal but promoter control at 56.38 percent stays above required 50.1 percent.