Shares of Hindustan Zinc Ltd, a subsidiary of Vedanta Ltd, are in the spotlight as the government kicks off a two-day Offer for Sale (OFS) to divest up to a 2.5% stake in the zinc, lead, and silver producer. The OFS is priced at Rs 505 per share, a nearly 10% discount to the current market price.
The sale begins today for non-retail investors, with retail investors able to participate on Thursday, November 7. Around 5.28 crore shares, representing 1.25% of Hindustan Zinc’s equity, are on offer, with an additional 1.25% available if demand exceeds expectations. The government aims to raise approximately Rs 5,900 crore through this sale.
Hindustan Zinc recently posted Q2 results that met analyst expectations, focusing on production efficiency and cost management. Following the results, Motilal Oswal Financial Services (MOFSL) maintained its earnings outlook, expecting the company to continue prioritizing profitability.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
