Vedanta group pledges 56.38% of VISL shares for US$1bn loan

GLAS Agency, acting as security agent for Citibank and Standard Chartered, disclosed creation of encumbrance over 2,20,47,24,753 shares of Vedanta Iron and Steel (VISL), equal to 56.38% of equity. This relates to a US$1 billion facility agreement dated 15 July 2026 with Vedanta group entities TSHL, VRL, VHMLII and Welter as borrowers and guarantors. No shares were bought or sold; the encumbrance sits on shares already pledged under prior Vedanta senior bonds. A key condition requires the VRL group to maintain at least 50.1% ownership if VISL becomes a material subsidiary.