Government raises Rs 3449 crore via OFS in HZL, sells 1.6% stake
On the first day of the share sale offer on November 6, the institutional investors had placed bids for close to Rs 3,400 crore shares or about 1.58 percent stake.
Government raises Rs 3449 crore via OFS in HZL, sells 1.6% stake
The government has raised Rs 3,449 crore through offer-for-sale (OFS) in Hindustan Zinc Ltd by selling about 1.6 percent stake. Through the two-day OFS on November 6-7, the government had proposed to sell over 5.28 crore shares, or 1.25 percent stake, with a greenshoe option to retain additional subscriptions of a similar amount. As per the official data, the government has raised Rs 3,449.18 crore from the OFS.
On the first day of the share sale offer on November 6, the institutional investors had placed bids for close to Rs 3,400 crore shares or about 1.58 percent stake.
The government, which held a 29.54 percent stake in HZL before the OFS, is the largest minority shareholder in the Vedanta Group firm.
Join PSU Connect on WhatsApp now for quick updates! Click here
Read Also : CONCOR signs MoU with Gati Shakti Vishwavidyalaya, Vadodara
The proceeds from the HZL stake sale helped to increase the disinvestment strategies of the government.
Read Also : NMDC Swarojgar Yojana Sparks Self-Employment Revolution in Kondagaon, ChhattisgarhNews Must Read
- CONCOR signs MoU with Gati Shakti Vishwavidyalaya, Vadodara
- Delhi Metro Rail completes 22 years of operations
- ONGC Executive Director, Sanjay Bhatt superannuates
- Oil India plans to Launch Subsidiary for Green Energy Ventures
- NTPC signs tripartite MoU to build green hydrogen infrastructure in Odisha
- BEL contributes Rs. 1.89 Cr to Kerala Flood Relief
- Defense Stock, Bharat Electronics shares surges over 1.12% amid securing project worth Rs 973 crore
- IREDA Sanctions Over Rs. 3,000 Crore; CMD Commits Support for State 10 GW RE Target
- Defence Ministry awards major order to L&T
- Sensex opens with over 800 points, Nifty trading up 1.15% with positive market trend