NEW DELHI: The Centre has generated Rs 3,449 crore by promoting roughly 1.6 per cent stake by way of offer-for-sale in Hindustan Zinc Ltd.
Government, in the course of the two-day OFS on November 6-7, supplied to promote greater than 5.28 crore shares, or 1.25 per cent stake, with an choice to hold extra subscriptions of equal amount.
Institutional traders submitted bids for almost Rs 3,400 crore shares, roughly 1.58 per cent stake, on November 6, the primary day of share sale. However, the response from retail traders remained subdued on November 7.
Prior to the OFS, the Centre held 29.54 per cent stake in HZL, making it the most important minority shareholder within the Vedanta Group enterprise.
In the continued fiscal 12 months, the administration has accrued Rs 8,625 crore by way of minority stake gross sales. This contains Rs 2,346 crore from GIC’s OFS and Rs 2,015 crore from Cochin Shipyard. Additionally, Rs 815 crore was obtained by way of SUUTI remittances.
