The federal government is planning to launch a proposal on the market (OFS) in Hindustan Zinc throughout the subsequent two weeks, with the Centre trying to promote a 1.5-2% stake within the mining firm, sources advised NDTV Revenue. The proposed stake sale may fetch the federal government round Rs 4,000-5,000 crore, relying on the ultimate supply dimension and worth at which the shares are bought.
Officers from Hindustan Zinc met the Division of Funding and Public Asset Administration (DIPAM) final week to debate the proposed OFS, sources mentioned. The transaction would mark the federal government’s newest try and monetise a part of its holding within the zinc producer.
The federal government at present owns a 27.92% stake in Hindustan Zinc, whereas Vedanta holds a controlling 60.71% stake within the firm. The final authorities stake sale in Hindustan Zinc came about in 2024.
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The proposed OFS comes as the federal government steps up its disinvestment programme and seeks to speed up receipts from its stake gross sales in public sector and government-held firms. The transaction can also be a part of DIPAM’s inner technique to lift round Rs 20,000 crore each quarter by varied asset monetisation and disinvestment initiatives.
The federal government has thus far acquired Rs 52,716 crore by disinvestment receipts. This represents round 66% of its Rs 80,000-crore full-year goal, leaving a good portion of the goal to be achieved by the rest of the monetary yr.
The Hindustan Zinc stake sale may subsequently present a sizeable enhance to authorities receipts and assist slim the hole with the annual disinvestment goal.
Hindustan Zinc Share Worth As we speak
Hindustan Zinc shares rose 2.2% greater at Rs 608 per share on Monday. The shares have risen 7.14% in a single week and 14.3% in a single month. The shares are down 0.65% year-to-date however up 43.09% within the final one yr.
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