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Vedanta offloads 1.6% stake in Hindustan Zinc to raise ₹3,028 crore
Anil Agarwal-owned Vedanta Ltd on Wednesday offloaded 66.7 million shares in its subsidiary Hindustan Zinc, amounting to 1.6 per cent of the company's outstanding ordinary share capital, raising ₹3,028 crore, according to a stock exchange filing.
The shares were sold to institutional investors through an accelerated book-building process. The board of directors of the Anil Agarwal-led Vedanta met on Wednesday and approved the first interim dividend of ₹7 per share for the financial year 2025–26 (FY26), totalling ₹2,737 crore, the company said.
Hindustan Zinc's stock ended the day at ₹452.80 on the National Stock Exchange, down 6.90 per cent, giving it a total valuation of ₹1.91 trillion. Vedanta owned a 63.42 per cent stake in the company before the transaction, which will decline to 61.82 per cent following the stake sale.
The company said the stake sale is part of Vedanta's broader strategy to demerge into sector-specific entities, and the proceeds will be used to strengthen its balance sheet.
'As we actively progress towards the demerger of Vedanta into sector-focused entities across diverse verticals, this capital raise will help de-leverage the balance sheet and enhance financial flexibility, enabling each of the demerged entities to pursue their independent growth plans,' the company said in a statement.
The company further added, 'This transaction reflects continued investor confidence in Vedanta's strategic direction, particularly the progress made over recent quarters in delivering record production, driving cost efficiencies, and execution of its deleveraging and demerger initiatives aimed at long-term value creation for all stakeholders.'
It added that the date for the purpose of dividend payment is expected to be Tuesday, June 24, 2025. Vedanta's shares were down by 0.64 per cent to ₹456 after the market closed on the NSE.
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