Hindustan Zinc encumbrance released under takeover regulations

Hindustan Zinc Limited (BSE:HINDZINC) has seen the release of encumbrance undertakings related to its shares, as disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Citicorp International Limited, acting as the agent for lenders, announced the release following the repayment of a facility availed by a Vedanta subsidiary. The original encumbrance was linked to a requirement that Vedanta directly or indirectly hold at least 50.1% of Hindustan Zinc's shares. As of March 7, 2025 ("Final Settlement Date"), all secured liabilities under the Existing Facility Agreement have been fully discharged, leading to the release of these undertakings. A separate pledge of 3.3% equity shares of the Target Company in favor of Axis Trustee Services Limited (“ATSL") acting as the onshore security agent was also released.