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Vedanta Limited has created an encumbrance on its shareholding in subsidiary Hindustan Zinc Limited.
Vedanta created a US $125 million encumbrance on its Hindustan Zinc shareholding for external borrowing.
KEY POINTS
- Vedanta must maintain at least 50.10% direct beneficial ownership and control of Hindustan Zinc until loan repayment.
- Over 91% of Vedanta's Hindustan Zinc shares are encumbered across eleven different financing facilities.
- HSBC maintains a Buy rating on Hindustan Zinc, citing Middle East supply disruptions and sets target at ₹720.
- HSBC upgraded its LME aluminium price forecasts, expecting an average of ~$3,300 per tonne through 2030.
COMPANIES
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