Key Points
Government is likely to begin international roadshows starting with the US this month for the sale of its residual 29.54 per cent stake in erstwhile public sector company Hindustan Zinc Ltd (HZL), an official said..
Vedanta wanted to sell its global zinc assets to HZL in a move that many analysts saw as an attempt to tap into the erstwhile state-run firm's huge cash pile.Government.
The Department of Investment and Public Asset Management (DIPAM) is now looking at expediting an offer-for-sale (OFS), through which the residual stake would be sold to institutional as well as public investors, the official said.. Promoter Vedanta group holds 64.92 per cent equity share of HZL, which is an integrated producer of zinc, lead and silver...
To begin with, roadshows are being planned in the United States towards mid June, while a similar investor meet is likely in the United Kingdom.. Vedanta had in January said it will sell its global zinc assets to HZL for cash consideration of USD 2,981 million..
The government had also said it will explore all legal options if Vedanta plans to move ahead with its global zinc asset sale to HZL...
You might be interested in
Govt may delay selling its stake in Hindustan Zinc for now: Report
19, Jul, 23Hindustan Zinc's stock price has declined over 16 per cent from the highs touched in January due to a sharp drop in zinc prices
Govt plans investor roadshows for HZL disinvestment this month
06, Jun, 23The Department of Investment and Public Asset Management (DIPAM) is now looking at expediting an offer-for-sale (OFS), through which the residual stake would be sold to institutional as well as public investors, the official said.
Govt writes to Sebi opposing Hindustan Zinc-Vedanta deal: Report
02, Mar, 23The board of Hindustan Zinc (HZL) - in which the government is the largest minority shareholder with a 29.54% stake - had in January approved buying Vedanta Group's zinc businesses in cash for $2.98 billion.
Govt's HZL stake sale only after clarity on proposed global asset transfer; unlikely this fiscal
12, Mar, 23So far in the current fiscal, the government has mopped up Rs 31,107 crore from stake sales in CPSEs. It was planning to sell its 29.54 per cent in HZL to meet the revised target.
Govt may not sell entire HZL stake after investors’ nudge
23, Apr, 23Investors want govt to stay after HZL board decided to buy parent’s assets despite opposition
Government opposes Vedanta move to sell zinc assets
20, Feb, 23India Business News: In a setback to billionaire Anil Agarwal's mining group, the government has opposed Vedanta Ltd's proposal to sell its international zinc business to