Vedanta Ltd has initiated a block deal to offload up to ₹3,018.2 cr worth of shares in Hindustan Zinc Ltd (HZL), CNBC-TV18 sources said. The floor price has been set at ₹452.5 per share, representing a discount of nearly 7% to the Tuesday closing price.
As per sources, the deal comprises up to 66.7 million shares—roughly 1.6% of Hindustan Zinc’s total outstanding stock. DAM Capital Advisors has been appointed as the book-running lead manager (BRLM) for this transaction, which is expected to garner substantial institutional interest, given HZL’s status as a global zinc major.
Earlier today, Hindustan Zinc informed the exchanges that its Board has approved the initial phase of a plan to double its capacity for zinc, lead, and silver production. As part of this expansion, the company will raise its integrated refined metal capacity by 250 kilotonnes per annum (ktpa), with corresponding increases in mining and milling capacity.
Also Read: Vedanta unit Hindustan Zinc to invest ₹12,000 crore for integrated zinc complex
The ₹12,000 crore project is targeted for completion within 36 months, signalling the company’s aggressive push toward capacity building in the face of rising global demand.
Meanwhile, shareholders of Vedanta Ltd are eyeing Wednesday’s trading session, when the company’s board is scheduled to consider its first interim dividend proposal for the current financial year.
In FY25, the Anil Agarwal-led conglomerate paid ₹43.5 per share as dividend, resulting in a total payout of over ₹17,000 crore.
(Edited by : Sheersh Kapoor)
First Published: Jun 17, 2025 5:41 PM IST
