Vedanta Iron & Steel

GLAS Agency (Hong Kong) Limited, acting as security trustee for three US dollar bonds totalling $1.75 billion issued by Vedanta Resources Finance II Plc, disclosed an encumbrance over the promoter group's entire 56.38% stake in Vedanta Iron And Steel on Tuesday. The encumbrance, effective from the 13 July trust deed, stems from negative pledge covenants that restrict the promoter group entities—Twin Star Holdings, Welter Trading, and Vedanta Holdings Mauritius II—from creating additional security interests, and also limit their ability to acquire or dispose of shares. The bonds were issued on 25 June 2026, and the filing clarifies that no share pledge exists, though the contractual terms meet the definition of encumbrance under India's takeover regulations.

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July 3 (Reuters) - Vedanta Iron And Steel Limited VEDR.NS:

• NEO APEX SHARE BROKING SERVICES LLP BUYS 20.89 MILLION SHARES IN VEDANTA IRON AND STEEL AT 42.42 RUPEES/SHARE VIA BULK DEAL - NSE DATA

Further company coverage: VEDR.NS

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** Vedanta Aluminium Metal VEDO.NS stock falls 5% below listing price to 495.90 rupees in trading debut

** Listed at 522 rupees, 331.3% higher than issue price of 121.03 rupees

** Vedanta Oil and Gas VEDL.NS also drops 5% below opening price on debut

** Vedanta Power TALA.NS and Vedanta Iron and Steel VEDR.NS rise 3.3% and 5.3% post-listing on NSE

** Parent Vedanta VDAN.NS, which now houses the base metals business, slips 1%

** All four firms listed Monday following demerger scheme that split VDAN's aluminium, power, iron & steel, and oil & gas units

(Reporting by Vijay Malkar)

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