The Indian government has unveiled its plan to divest up to a 2.5% stake in Hindustan Zinc Limited (HZL) through an Offer for Sale (OFS), set to begin on November 6, 2024, at a floor price of ₹505 per share. The sale will comprise a base offer of 1.25% equity, with an additional 1.25% available as a greenshoe option, according to a statement by the Department of Investment and Public Asset Management (DIPAM).
As of the latest data from September 2024, the Centre holds a 29.54% stake in Hindustan Zinc, while Vedanta, the major stakeholder, owns a 63.42% share. The OFS will be available on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Non-retail investors will have the first opportunity to participate on Wednesday, November 6, while retail investors can place their bids on Thursday, November 7.
