Hindustan Zinc OFS: Government Plans 1.5-2% Stake Sale Worth Up To Rs 5,000 Crore
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The Centre is planning to sell a 1.5-2% stake in Hindustan Zinc through an OFS within the next two weeks, potentially raising Rs 4,000-5,000 crore. The government currently owns 27.92% of the company, while Vedanta holds a controlling 60.71% stake.
Hindustan Zinc OFS: The Centre is preparing to launch an offer for sale (OFS) in Hindustan Zinc within the next two weeks, looking to sell a 1.5-2% stake in the mining company, according to people familiar with the matter, as reported by NDTV Profit. Depending on the final offer size and the price at which the shares are sold, the transaction could fetch around Rs 4,000-5,000 crore for the government.
Officials from Hindustan Zinc met representatives of the Department of Investment and Public Asset Management (DIPAM) last week to discuss the proposed sale, the people said. The transaction would mark the government's first stake sale in the company since 2024.
The government currently holds a 27.92% stake in Hindustan Zinc, while Vedanta remains the controlling shareholder with a 60.71% stake.
The proposed OFS comes as the government looks to step up its disinvestment programme and increase receipts from stake sales and asset monetisation. DIPAM has an internal target of raising around Rs 20,000 crore every quarter through such initiatives.
The government has so far collected Rs 52,716 crore through disinvestment receipts, around 66% of its Rs 80,000 crore target for the full financial year. A Hindustan Zinc stake sale could therefore provide a sizeable boost to government receipts and help narrow the gap with the annual target.
Hindustan Zinc Share Price
Hindustan Zinc shares were trading 2.2% higher at Rs 608 on Monday. The stock has gained 7.14% over the past week and 14.3% over the past month.
On a year-to-date basis, the shares are down 0.65%, while they have gained 43.09% over the past 12 months.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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