Vedanta may buy 6% more stake in Hindustan Zinc for Rs 7,900 cr

Govt planning OFS to sell 15% stake by March-end, will lose special rights over company; sources says Vedanta is looking raise about $1 billion from three foreign banks to fund the acquisition

The Vedanta group, which currently owns 64.9 per cent stake in Hindustan Zinc, is planning to acquire an additional 6 per cent stake in the company, as and when the government sells its holding.

The additional stake will cost the Anil Agarwal company around Rs 7,900 crore while the Indian government will lose its special rights over the company.

The Indian government currently owns 29.5 per cent in the company and plans to sell 15 per cent via an OFS (offer for sale), Vedanta chairman Anil Agarwal told CNBC on March 3.

Banking sources said Vedanta is in talks with