Indian government raised $428M by selling a stake in Hindustan Zinc Ltd, boosting disinvestment goals.

The Indian government raised Rs 3,449 crore by selling a 1.6% stake in Hindustan Zinc Ltd through a two-day offer-for-sale on Nov 6-7. Initially, they planned to sell over 5.28 crore shares, representing 1.25% of their stake, with an option for additional subscriptions. The government now holds 29.54% in the company, making it the largest minority shareholder. This sale adds to the government’s Rs 8,625 crore disinvestment in the current fiscal year.

November 10, 2024
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