Hindustan Zinc was up 1.06% to Rs 210.25, with the stock extending yesterday's gain after the company announced that its board has approved fund raising upto Rs 4000 crore through issue of debentures.
The stock rose 0.89% to settle at Rs 208.05 on Tuesday, 22 September 2020.
The Vedanta group company in an exchange filing made during market hours on Tuesday said that the duly authorized committee of directors considered and approved offering for subscription on a private placement basis, up to 40,000 unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) of a face value Rs 10,00,000 each. The fundraising would aggregate up to Rs 4,000 crore, including the option to retain oversubscription of up to Rs 1,000 crore.
As on 30 June 2020, Vedanta held 64.98% stake in Hindustan Zinc.
Hindustan Zinc is engaged in the mining and smelting of zinc, lead and silver metal in India. The firm's segments include mining and smelting of zinc, lead and silver, and wind energy.
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