Mining conglomerate Vedanta Ltd is reportedly set to offload shares worth up to ₹7,500 crore in its subsidiary Hindustan Zinc Ltd (HZL) through block deals, according to sources cited by CNBC-TV18 and Moneycontrol.
📉 Shares to Be Offered at Discount Amid Market Dip
The stake sale, expected to take place on June 18, will be executed at a discount of up to 10% to HZL’s last closing price of ₹485.95 on the NSE, where the stock fell over 5% on Tuesday.
🏦 DAM Capital and Citi to Manage Transaction
Investment firms DAM Capital and Citi are reportedly acting as brokers for the deal, which could involve up to 10% of Vedanta’s 63.42% stake in HZL.
🏗️ Strategic Move Amid ₹12,000 Crore Expansion Plan
The sale comes as Hindustan Zinc embarks on a ₹12,000 crore expansion project to double its production capacity for zinc, lead, and silver. The company’s board has approved the setup of a 250,000-tonne integrated zinc metal complex in Debari, Rajasthan, with corresponding mining and milling infrastructure.
💰 Proceeds Likely to Ease Vedanta’s Debt Load
Analysts believe the proceeds from the stake sale will help ease Vedanta’s debt burden and support its broader restructuring and capital allocation strategy.
