GLAS discloses 56.38 percent encumbrance on Vedanta Power shares via bond covenants
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GLAS Agency (Hong Kong), acting as security trustee for US$ 1.75 billion bonds issued by Vedanta Resources Finance II Plc, disclosed encumbrance over 220.47 crore equity shares (56.38 percent) of Vedanta Power under Takeover Regulations Chapter V. The encumbrance arises from bond covenant restrictions on promoter group entities. No actual pledge has been created yet as on the disclosure date.
Encumbrance reported on 56.38 percent of VPL shares via bond covenants; no actual pledge yet, but promoter share transfer flexibility could be impacted.