 "Govt to sell 2.5% in Hindustan Zinc at floor price of Rs 505 per share")
The Centre is planning to sell 2.5 per cent of the total share capital of Hindustan Zinc Ltd (HZL) through an offer for sale (OFS) on Wednesday and Thursday for Rs 505 per share. The offer price is 9.7 per cent of its current market price of Rs 559.5.
The two-day OFS opens for institutional bidders on Wednesday and for retail investors on Thursday.
In an exchange filing, Hindustan Zinc said the Centre is proposing to sell 52.8 million shares, representing 1.25 per cent of the total paid-up capital, with an option to sell another 52.8 million shares in the event of an oversubscription.
“Offer for sale in Hindustan Zinc Limited opens tomorrow (Wednesday) for non-retail investors. Retail investors can bid on Thursday, 7th November. Government will divest 1.25 per cent equity with an additional 1.25 per cent as greenshoe option,” Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a post on X.
Non-retail investors who choose to carry forward their unallocated bids can participate on Thursday. The Centre holds
a 29.5 per cent stake in the company at present. In 2024 Hindustan Zinc’s stock has gained 76 per cent.Shares of HZL closed at
Rs 559.45, up 2.99 per cent over previous close on the BSE.
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