Vedanta: GLAS trustee discloses 54.72% encumbrance on shares via new Tap Bonds
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GLAS Agency (Hong Kong) Ltd, bond trustee, has filed an SAST disclosure reporting encumbrance over 2,139,651,763 shares (54.72%) of Vedanta under SEBI Takeover Regulations. Triggered by new Tap Bonds worth USD 400M issued by promoter VRL subsidiary on 16 Sep 2026 across three tranches maturing 2032 to 2037. Filing clarifies no actual pledge was created; this is a technical disclosure because bond covenants may fall under the encumbrance definition. Same shares were disclosed earlier in July, so before and after figures are unchanged.
Promoter-level Tap Bond issuance of USD 400M adds to VRL debt load. Bond covenants require promoter to hold at least 50.1% of Vedanta equity. No fresh encumbrance created on shares.