{"id":1287114,"date":"2024-11-07T13:58:51","date_gmt":"2024-11-07T08:28:51","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1287114"},"modified":"2024-11-07T13:59:13","modified_gmt":"2024-11-07T08:29:13","slug":"govt-sells-2-5-stake-in-hindustan-zinc-at-10-discounted-rate","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/govt-sells-2-5-stake-in-hindustan-zinc-at-10-discounted-rate\/","title":{"rendered":"Govt Sells 2.5% Stake In Hindustan Zinc At 10% Discounted Rate"},"content":{"rendered":"\n

After the government announced plans to sell up to 2.5% of its shareholding through an offer for sale (OFS), shares of Vedanta company Hindustan Zinc Ltd. fell as much as 8% on November 6.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

A 1.25% initial divestment is part of the OFS, and a further 1.25% may be sold based on demand.<\/p>\n\n\n\n

Shares of Vedanta Company Hindustan Zinc Ltd. Fell by 8% After Govt Announces to Sell It<\/strong><\/p>\n\n\n\n

The OFS has fixed a floor price of \u20b9505 per share, which is 10% less than the closing price of the day before. If all shares are subscribed for, the possible proceeds might reach \u20b95,300 crore.<\/p>\n\n\n\n

As per Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey\u2019s post on X, \u201cOffer for sale in Hindustan Zinc Limited opens tomorrow (Wednesday) for non-retail investors. Retail investors can bid on Thursday, November 7. Government will divest 1.25 per cent equity with an additional 1.25 per cent as greenshoe option.\u201d<\/p>\n\n\n\n

Following the usual bidding procedure<\/a>, the OFS opened for retail investors on Thursday after opening for non-retail investors on Wednesday, November 6.<\/p>\n\n\n\n

On November 6, the shares of Hindustan Zinc Ltd. finished at \u20b9514.85, a decrease of 8.01% from the previous closing.<\/p>\n\n\n\n

Hindustan Zinc\u2019s Stock Increased 61%<\/strong><\/p>\n\n\n\n

Hindustan Zinc Ltd.’s stock has increased 61% since the start of 2024 and 73% in the past year.<\/p>\n\n\n\n

As long as they have the entire bid amount in their demat account, investors are permitted to put numerous bids in the OFS, and bids can be modified during the trading day.<\/p>\n\n\n\n

Like the IPO procedure, final allocations are announced at the end of the day, and any extra money is returned.<\/p>\n\n\n\n

As of the September quarter, the government owned 29.5% of Hindustan Zinc, while the Vedanta Group owned 63.42%.<\/p>\n\n\n\n

This OFS comes after the Vedanta Group sold a stake in August. CMD Arun Misra stated in October that the government intended to move forward with the OFS shortly.<\/p>\n","protected":false},"excerpt":{"rendered":"

After the government announced plans to sell up to 2.5% of its shareholding through an offer for sale (OFS), shares of Vedanta company Hindustan Zinc Ltd. fell as much as 8% on November 6. A 1.25% initial divestment is part of the OFS, and a further 1.25% may be sold based on demand. Shares of […]<\/p>\n","protected":false},"author":25,"featured_media":1287115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6441,6442],"class_list":["post-1287114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-hindustan-zinc","tag-ofs"],"acf":[],"yoast_head":"\nGovt Sells 2.5% Stake In Hindustan Zinc At 10% Discounted Rate - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/govt-sells-2-5-stake-in-hindustan-zinc-at-10-discounted-rate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt Sells 2.5% Stake In Hindustan Zinc At 10% Discounted Rate - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"After the government announced plans to sell up to 2.5% of its shareholding through an offer for sale (OFS), shares of Vedanta company Hindustan Zinc Ltd. fell as much as 8% on November 6. 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