Vedanta divests 1.6% stake in Hindustan Zinc to boost balance sheet
By Aditya Bhagchandani Published on June 18, 2025, 12:36 IST
Vedanta Limited announced on June 18 that it has sold 66.7 million shares in Hindustan Zinc Limited through an accelerated bookbuild process, amounting to approximately 1.6% of the company's total issued equity capital. The stake sale fetched gross proceeds of around Rs 3,028 crore.
According to the official release, the transaction is part of Vedanta's broader strategy to strengthen its financial position ahead of the planned demerger into sector-focused entities. The capital raised from the stake sale is expected to support deleveraging and enhance financial flexibility across the business units.
Vedanta emphasized that the move reflects continued investor confidence in the group's strategic transformation, which includes operational efficiency, record production achievements, and long-term value creation efforts.
The company reiterated that the demerger process, aimed at unlocking growth potential across its verticals, remains on track.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
an hour ago
- Business Upturn
Hero MotoCorp to introduce VIDA VX2 with Battery-as-a-Service model from July 1
By Aditya Bhagchandani Published on June 18, 2025, 16:36 IST Hero MotoCorp has announced a major step in reshaping EV ownership with the launch of the VIDA VX2 electric two-wheeler under a new 'Battery-as-a-Service' (BaaS) model. Starting July 1, 2025, this subscription-based service will offer a flexible, pay-as-you-go battery plan, aimed at making electric mobility more accessible and affordable across India. The BaaS model will allow customers to finance the scooter chassis and the battery separately, significantly reducing upfront costs. Tailored subscription plans—based on daily or monthly usage—will give users the convenience of manageable payments and flexibility in ownership. The new approach aligns with Hero MotoCorp's broader vision of building a future-ready and inclusive EV ecosystem under its VIDA brand. With over 3,600 fast-charging stations and more than 500 service points in 100+ cities, VIDA is positioned to deliver convenience, cost-efficiency, and accessibility to a wider audience. Full details, including subscription pricing and plan specifics, will be revealed on July 1. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
an hour ago
- Business Upturn
Jio Financial Services acquires full ownership of Jio Payments Bank from SBI for Rs 104.54 crore
By Aditya Bhagchandani Published on June 18, 2025, 16:37 IST Jio Financial Services has officially acquired the remaining 51% stake in Jio Payments Bank from State Bank of India (SBI), making it a wholly owned subsidiary. The company announced that it acquired 7.91 crore equity shares from SBI for a total consideration of Rs 104.54 crore following regulatory approval from the Reserve Bank of India (RBI) on June 4, 2025. The transaction was completed on June 18, 2025, around 3:27 PM, as per a disclosure made by Jio Financial Services to the stock exchanges. This move is part of Jio Financial's strategy to consolidate and expand its digital financial services ecosystem. The acquisition marks a significant step in enhancing Jio Financial's footprint in the digital banking and fintech space, enabling the company to operate Jio Payments Bank as a fully integrated entity under its financial services portfolio. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
5 hours ago
- Business Upturn
Vedanta divests 1.6% stake in Hindustan Zinc to boost balance sheet
By Aditya Bhagchandani Published on June 18, 2025, 12:36 IST Vedanta Limited announced on June 18 that it has sold 66.7 million shares in Hindustan Zinc Limited through an accelerated bookbuild process, amounting to approximately 1.6% of the company's total issued equity capital. The stake sale fetched gross proceeds of around Rs 3,028 crore. According to the official release, the transaction is part of Vedanta's broader strategy to strengthen its financial position ahead of the planned demerger into sector-focused entities. The capital raised from the stake sale is expected to support deleveraging and enhance financial flexibility across the business units. Vedanta emphasized that the move reflects continued investor confidence in the group's strategic transformation, which includes operational efficiency, record production achievements, and long-term value creation efforts. The company reiterated that the demerger process, aimed at unlocking growth potential across its verticals, remains on track. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
