Several media reports yesterday indicated that vedanta, the promoter of Hindustan zinc, was looking to pare it its stake in the company, with the deal size initialy pegging at 7,500 Crore, According to CNBC-TV 18. However, Today Morning, 7.2 Crore Shares, REPRESENTING 1.71% Equity, Wort 3,323 Crore Changed Hands at 460.5 per share via block deals, the business news channel said.
Hindustan Zinc Block Deal Details
While The Sellers in Hindustan Zinc Block Deal Ware Not Known Immedited, Vedanta Later today disclosed selling a 1.6% stake in the company.
Vedanta Limited Announces that It Has Sold 66.7 Million Shares in Hindustan Zinc Limited, A Subsidiary of the company, to institutional investors by way of an accelerated book priorce Issued Ordinary Share Capital, The Anil Agarwal-Led Company said in a filing today.
The Total Sale Amounts to 3,028 Crore, which vedanta said would help strengthen its balance sheet. The Large-Cap Metal Company also stands to gain 2,679.54 Crore from the recently-new ₹ 10 by Subsidiya Hindustan Zinc “> Divide of 10 by Subsidian Hindustan Zinc.
“As we actively program towards the demerger of vedanta into sector-focused entities across diverse verticals, this capital raise will help de-laverage the balance sheet and enhance finance finance Flexibility, enabling each of the demerged entities to pursue their independent growth plans, ”The company added.
Vedanta is looking to demerge its business into five units, namely vedanta (the parent company), vedanta aluminum metal, vedanta power, vedanta power, vedanta iron and step and vedanta oil and GAS.
This transaction reflects Continued Investor Confidence in Vedanta’s Strategic Direction, Particularly The Progress Made Over Recent Quarters in Delivering Record Production, Driving COVING COMTERS, Driving Cost Efficiency Execution of its deleveragging and demerger initiatives aimed at long-term value creation for all stakeholders, it added.
Block deal impact
Following the Block Deal, Hindustan Zinc Share Price Tumbled as much as 6.4% in intraday deals today to the day’s low of 455.35 Apiece.
As of 1.15 PM, Hindustan Zinc Stock was trading 5.68% down at 458.75 per share.
Meanwhile, vedanta shares were trading flat with a positive bias following the announcing of the interim dividend. The company Announced the first interim dividend for fiscal 2026 at 7 Apiece.
Disclaimer: This story is for educational purposes only. The views and recommendations made Above are that of individual analysts or broking companies, and not of mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
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