Citicorp reveals encumbrance on Vedanta shares for new bonds

Citicorp International Limited, acting as trustee, has disclosed an encumbrance over shares of Vedanta Limited (VEDL) held by Vedanta Holdings Mauritius II Limited (VHMLII). This action is linked to the issuance of several tranches of guaranteed senior bonds by Vedanta Resources Finance II plc. The bonds total $2.6 bn, including $900m 10.875% due 2029, $300m 10.875% due 2029 (Tap Bonds), $300m 10.25% due 2028, $500m 11.25% due 2031, $550m 9.475% due 2030, and $550m 9.850% due 2033.

Supplemental trust deeds were executed on October 27, 2025, to include VHMLII as a subsidiary guarantor for the three principal trust deeds covering these bonds. While no pledge has been created over VEDL's equity shares as of the disclosure date, the conditions of the bonds fall under the definition of 'encumbrance' as per Takeover Regulations. This encumbrance is in addition to previously disclosed encumbrances related to other bonds.

As of October 27, 2025, the total shares in the nature of encumbrance (pledge/lien/non-disposal undertaking/other) held by the acquirer along with PACs amounts to 2,095,867,334 shares, representing 53.60% of Vedanta Limited's total share/voting capital. The total equity share capital before and after the acquisition is 3,91,03,88,057 shares.