Crime Today News
Vedanta Ltd is set to sell up to 1.6% stake in Hindustan Zinc through a block deal valued at $350 million, offering up to 6.67 crore shares at a floor price of ₹452.50 — a 7% discount to Tuesday’s closing price.
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DANISH SIDDIQUI/Reuters
Vedanta Ltd is planning to sell up to 1.6 per cent stake in its subsidiary Hindustan Zinc through a block deal for around $350 million, according to a term sheet.
The Anil Agrawal promoted company will be selling up to 6.67 crore shares at a floor price of ₹452.50, which is a 7 per cent discount to the closing price of the stock on the NSE on Tuesday.
Vedanta held a 63.4 per cent stake in Hindustan Zinc at the end of March 2025.
Hindustan Zinc’s board has also approved plans to expand its integrated refined metal capacity by 250 kilo tonnes per annum with an investment of ₹12,000 crore.
It announced that the board has also approved the capacity expansion to double the capacity of zinc, lead, and silver, which aligns with the strong growth in demand in India and globally over the next five years.
The project, which includes an integrated smelter at Debari and expansion of mines and mills, will be completed over 36 months.
Published on June 17, 2025
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