Vedanta Ltd is reportedly planning to offload Hindustan Zinc shares worth up to ₹7,500 crore through block deals, according to CNBC TV18 sources. The sale is expected to be offered at a discount of up to 10% to the last traded price, with DAM Capital and Citi acting as brokers for the transaction, which may hit the markets soon.
On Tuesday, shares of Hindustan Zinc fell 5.26% to close at ₹485.95 on the NSE, marking a drop of ₹27 compared to the previous session.
Earlier in the day, Hindustan Zinc informed the stock exchanges that its board had approved the initial phase of a ₹12,000 crore expansion project aimed at doubling its zinc, lead, and silver production capacity. The plan involves increasing refined metal capacity by 250 kilotonnes per annum, along with associated mining and milling enhancements. The project is expected to be completed in 36 months.
Hindustan Zinc board approves Rs 12,000 crore expansion to boost capacity
Meanwhile, investors are closely watching Vedanta Ltd as its board is set to consider the first interim dividend for the current fiscal year on Wednesday. In FY25, Vedanta paid a total dividend of ₹43.5 per share, amounting to over ₹17,000 crore.
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