Vedanta Power: 56.38% promoter shares encumbered in 2026

What the stock exchange disclosures say

Vedanta Power Ltd (BSE: 544781, NSE: VEDPOWER) has made multiple disclosures under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST Regulations). The exchange also noted receiving disclosures for GLAS Agency (Hong Kong) Ltd and for Twin Star Holdings Ltd and others.

The filings centre on promoter and promoter-group shareholding, including creation and disclosure of encumbrances over shares, and changes in promoter holding arising from a Composite Scheme of Arrangement. Separately, Vedanta Power also disclosed information after receiving an intimation under Regulation 30A of the SEBI LODR Regulations from promoter-group entities.

VEDPOWER’s stock price was stated as Rs 37.9 as of 18 July 2026 in the material provided.

The key event: encumbrance over 2.20 billion promoter shares

A central disclosure states that Vedanta Power’s promoter group, Vedanta Resources Ltd (VRL), created an encumbrance over 2.20 billion equity shares. This block represents 56.38% of the company’s voting capital, according to the filing. The disclosure referenced a new $1 billion facility agreement dated 15 July 2026.

In another part of the disclosed material, Vedanta Power also stated that existing encumbrances on promoter shares represent 56.38% of the company’s total share capital. The company clarified that no new pledges have been created as part of a recent $1 billion facility agreement, while also stating that encumbrances have been created over Vedanta Power shares under the facility agreement and related finance documents and disclosed as required under the Takeover Regulations.

These statements highlight that the filings are focused on security and disclosure obligations at the promoter-group level, rather than operating-company borrowings.

Regulation 30A intimation and the company’s position

Vedanta Power informed the exchanges that it received an intimation under Regulation 30A of the LODR Regulations from Twin Star Holdings Ltd, VRL, Vedanta Holdings Mauritius II Limited and Welter Trading Limited, described as promoter-group entities of the company. The intimation was received on 17 July 2026 at 11:48 PM (IST).

In the Annexure referenced in the filing, Vedanta Power stated it is not a party to the bridge facility agreement dated 15 July 2026. The facility agreement was described as having a total commitment of $1,000,000,000. The company further stated that disclosures required under Regulation 29(1) of the Takeover Regulations and under Regulation 31 of the Takeover Regulations, required pursuant to the facility agreement, have been made within prescribed timelines.

The filing also stated that no liabilities have been imposed on Vedanta Power.

GLAS Agency (Hong Kong) Ltd and bond-related security

The disclosure set also links encumbrance over Vedanta Power shares to bonds issued at a group level. As per the provided text, promoter group entities have placed an encumbrance on 56.38% of the company’s equity shares as security for bonds worth $1.75 billion issued by Vedanta Resources Finance II Plc, a subsidiary of VRL.

GLAS Agency (Hong Kong) Limited is identified as acting as the security trustee for the bondholders. The exchange separately recorded receipt of a disclosure for GLAS Agency (Hong Kong) Ltd under Regulation 29(1), aligning with the security-trustee role described in the material.

Promoter holding increase via Composite Scheme of Arrangement

Separately from the encumbrance disclosures, Vedanta Power filed details of a promoter and promoter-group acquisition of 2.20 billion equity shares, increasing their total holding to 56.38%. This acquisition was stated to be pursuant to a Composite Scheme of Arrangement, with shares listed on 15 June 2026.

The material states that Vedanta Power Limited allotted 2,20,48,67,749 equity shares to its promoter group, representing 56.38% of the post-issue capital. The allotment date was stated as 4 May 2026, and the scheme was said to have been sanctioned by the National Company Law Tribunal (NCLT), Mumbai Bench, vide its order dated 9 January 2026.

The total paid-up capital after the allotment was stated as 391,03,88,057 shares of face value Rs 10 each.

Public announcement around listing and scheme mechanics

The provided text includes a statutory advertisement clarifying that the public announcement does not relate to any issuance or sale of equity shares to the public, and that no offer is being made.

The scheme was described as involving Vedanta Limited (the demerged company) and Vedanta Power Limited (formerly Talwandi Sabo Power Limited). The scheme became effective from 1 May 2026, with the appointed date also stated as 1 May 2026. As part of the scheme, the merchant power undertaking of Vedanta Limited was demerged into and vested with the company on a going concern basis.

The advertisement also states that the company allotted 1 equity share of face value Rs 10 each for every 1 equity share of Rs 10 held in the demerged company as on the record date of 1 May 2026.

Who received shares under the scheme

The disclosure notes that the allotment was made to 30 entities and individuals identified as acquirers and Persons Acting in Concert (PAC). Major recipients cited include Twin Star Holdings Ltd, Vedanta Holdings Mauritius II Limited, Welter Trading Limited, and Vedanta Holdings Mauritius Limited.

Individual promoters named as recipients include Pravin Agarwal, Suman Didwania, Ankit Agarwal, and Sakshi Mody.

Key facts at a glance

Market impact and why these filings matter

Encumbrance disclosures matter because they inform investors about shares offered as security by promoters or promoter-group entities. In this case, the filings explicitly quantify the encumbered portion at 56.38% of voting capital and tie it to a $1 billion facility agreement and bond-related security arrangements.

The Regulation 30A intimation also matters because it is a structured disclosure route under LODR for agreements and arrangements that may have implications for listed entities. Vedanta Power’s filing emphasised that the company is not a party to the facility agreement and that no liabilities have been imposed on it, while confirming that required disclosures under the Takeover Regulations have been made.

What to watch next

Based on the disclosures, the immediate next steps for investors are further exchange filings under the Takeover Regulations, including any updates under Regulation 31 for encumbrance changes, and any clarifications issued by the company or promoter group if security structures change.

The company’s post-scheme shareholding and trading history from the 15 June 2026 listing date also remain a key context point, since the promoter holding and the encumbrance percentage referenced in disclosures are anchored to the post-issue capital structure described in the filings.