Promoter encumbrance disclosure on Vedanta Power, 56.38% shares pledged
VEDPOWER · price
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VRL subsidiary issued USD 1.75 bn bonds on 25 June 2026 in three tranches due 2032, 2034, 2037 rated Ba3, BB, BB-. Bond covenants trigger encumbrance disclosure over 56.38 percent (220.47 crore shares) of Vedanta Power held by promoter entities like Twin Star and Welter. GLAS Agency Hong Kong is security trustee. Proceeds repay existing bonds. No new pledge created but conditions qualify as encumbrance under SEBI rules. Promoters must retain at least 50.1 percent.
Promoter group bonds rated junk; encumbrance covers 56.38 percent of VPL shares but no new pledge. Promoters must hold 50.1 percent, limiting dilution risk.