The share pledging by Vedanta acquires significance in the wake of the government's decision to sell its entire residual stake in Hindustan Zinc
There is an update at the end of the story.
Metals and mining major Vedanta has pledged 86.1 per cent of its shareholding in Hindustan Zinc in the quarter ending March 31, 2022, marking a sharp increase in pledged shares by the promoter versus the December quarter. Vedanta has a 64.9 per cent stake in Hindustan Zinc.
To put things in perspective, Vedanta had pledged only 22.8 per cent of its shareholding in Hindustan Zinc in the December quarter, which was valued at Rs 19,839.4 crore. This jumped to Rs 73,102 crore in the March quarter, data compiled by BS Research Bureau shows.
The number of shares pledged by the promoter, according to BS Research data, now stands at
First Published: May 26 2022 | 8:28 PM IST