Vedanta to Sell 1.59% Stake in Hindustan Zinc via OFS After Market Close
Share Market
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CNBC Awaaz•27-01-2026, 17:44
Vedanta to Sell 1.59% Stake in Hindustan Zinc via OFS After Market Close
- •Vedanta's share price surged 3% to ₹705 on Monday, showing a 20% rise in the last month and 46% in three months.
- •Post-market close, Vedanta announced its decision to sell 6.70 crore shares (1.59% equity) in Hindustan Zinc Limited (HZL) through an Offer for Sale (OFS).
- •The stake sale is valued at approximately ₹4500 crore, with a floor price of ₹685 per share.
- •The OFS for Hindustan Zinc will be open on January 28 and 29, 2026.
- •This move aims to strengthen Vedanta's balance sheet and reduce debt, though it could lead to mixed investor reactions regarding reduced HZL stake.
Why It Matters: Vedanta announced a significant stake sale in Hindustan Zinc via OFS to strengthen its balance sheet.
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