Govt gets Rs 3,449 crore from Hind Zinc OFS

NEW DELHI: Government has raised Rs 3,449 crore through offer-for-sale in Hindustan Zinc by selling about 1.6% stake. Through the two-day OFS on Nov 6-7, government had proposed to sell nearly 5.3 crore shares, or 1.25% stake, with a greenshoe option to retain additional subscriptions of a similar amount. government has raised Rs 3,449.2 crore from the OFS, official data showed.

Government, which held over 29.5% stake in HZL before the OFS, is the largest minority shareholder in the Vedanta Group firm.The proceeds from the HZL stake sale helped to increase the disinvestment coffers of government.
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