The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Citicorp International Ltd
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Citicorp International Ltd, acting as trustee for holders of Vedanta Resources Finance II Plc bonds, has disclosed the creation of encumbrance over additional 49.28 crore (12.60%) equity shares of Vedanta Ltd held by Vedanta Holdings Mauritius II Limited (VHMLII). This follows VHMLII being added as a subsidiary guarantor to trust deeds covering bonds worth about USD 3.4 billion issued between September 2024 and January 2025. With this addition, total encumbrance on Vedanta shares now stands at 209.59 crore shares, or 53.60% of total share capital, up from 40.99% earlier. The company clarified that no actual pledge has been created as of the disclosure date, and this encumbrance is in addition to existing encumbrances already disclosed.
The encumbered holding has crossed the 50% mark, which raises governance concerns for minority shareholders as it signals increased financial leverage at the promoter group level. While no actual pledge has been invoked yet, the rising encumbrance reflects Vedanta Resources' ongoing debt-raising activity, which could affect promoter stability and indirectly Vedanta's stock.