Home / Markets / News / Hindustan Zinc surges 7% as Co to raise up to Rs 4,000 crore through NCDs

Hindustan Zinc surges 7% as Co to raise up to Rs 4,000 crore through NCDs

It added that the fundraising would aggregate up to Rs 4,000 crore, including the option to retain oversubscription of up to Rs 1,000 crore.

Following the sharp run-up, returns are expected to plateau.

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Vedanta Ltd owns 64.9 per cent stake in the company, while the government holds a 29.5 per cent stake.

2 min read Last Updated : Sep 23 2020 | 10:42 AM IST

Shares of Hindustan Zinc (HZL) rallied nearly 7 per cent to Rs 222.75 apiece on the BSE on Wednesday, a day after the company said its board-constituted panel has approved raising up to Rs 4,000 crore through debentures.

"The duly authorised 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 filing said.

It added that the fundraising would aggregate up to Rs 4,000 crore, including the option to retain oversubscription of up to Rs 1,000

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