Hindustan Zinc: Axis Trustee Encumbers 50.1% Shares

Axis Trustee Services Ltd, acting as debenture trustee for Vedanta Limited's unsecured, listed, rated, redeemable, non-convertible debentures, has disclosed the creation of an encumbrance over 2,116,884,819 equity shares of Hindustan Zinc Limited (HZL). This represents 50.10% of the total diluted share capital of HZL. This action is in accordance with the terms of the Debenture Trust Deed, which requires Vedanta Limited to maintain legal and beneficial ownership and control over 50.1% of HZL's share capital until full redemption of the debentures. The disclosure is made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. Prior to this, HZL had existing encumbrances including a pledge of 54,224,928 shares (1.28%) and a non-disposal undertaking on 2,116,884,819 shares (50.10%). Post this disclosure, the total encumbrance remains at 50.10% through the non-disposal undertaking.