Vedanta shares in focus today; here's why

Shares of Vedanta Ltd were in focus on Thursday morning ahead of the Anil Agarwal-led company's 60th annual general meeting (AGM) today. The stock was also in news after the metals & mining major informed stock exchanges about the release of encumbrance of equity shares in favour of Axis Trustee Services. 

Vedanta Resources Finance II PLC had issued bonds aggregating to $600,000,000 originally due on 2026 guaranteed by VRL, the parent of Vedanta Ltd. It disclosed the same on January 15, 2024, with the stock exchanges.

"Further, pursuant to the full repayment of the bonds and no objection certificate dated July 07, 2025, the issuer has redeemed the entire outstanding amount of the bonds and all encumbrances created pursuant to the bonds and the Trust Deed have been released," Vedanta said.

For clarity, no pledge was created by any of the promoter group entities over the equity shares of Vedanta Limited in relation to the bonds, Vedanta clarified.

Vedanta shares opened nearly 1 per cent lower but recovered. The stock was trading at Rs 441.05 on BSE, up 0.06 per cent.

"Given the nature of conditions and/or arrangements under the Facility Agreement, the encumbrances and other conditions therein are likely to fall within the definition of the term 'encumbrance" provided under the Chapter V of the Takeover Regulations. The enclosed disclosed is being made under Pursuant to Regulation 29(2) of SEBl (Substantial Acquisition of Sharcs and Takeovers) Regulations, 2011 ("Takeover Regulations")," Vedanta said.

Axis Trustee Services Limited acted as the Agent for and on behalf of the bondholders, in relation to release of encumbrance over the equity shares of Vedanta Limited held by Vedanta Resources Limited, through its subsidiaries, Twin Star Holdings, Welter Trading Limited, Vedanta Holdings Mauritius Limited, Vedanta Holdings Mauritius I Limited and Vedanta Netherlands Investments BV. 

The Vedanta stock had tumbled 3.4 per cent in the previous session after a report by Viceroy research group accused VRL of draining Vedanta by forcing it to take on more debt and deplete its cash reserves. Calling the report a malicious combination of selective misinformation and baseless allegations to discredit the group, Vedanta said the report was issued without making any attempt to contact it, with the company the sole objective creating false propaganda. 

"It only contains compilation of various information - which is already in the public domain, but the authors have tried to sensationalise the context to profiteer from market reaction. The timing of the report is suspect and could be to undermine the forthcoming corporate initiatives," Vedanta said.

"Our stakeholders are discerning enough to understand such tactics. In fact, to avoid any responsibility – authors of the report have added various disclaimers that the report has been prepared for educational purposes only and expresses their opinions and are not statements of fact," it said.

Vedanta said it remained focused on the business and growth, and request everyone to avoid speculation and unsubstantiated allegations.