The Cabinet Committee on Economic Affairs (CCEA) has reportedly approved the sale of its remaining 29.5 per cent stake in Hindustan Zinc (HZL) as the centre looks to accelerate its disinvestment drive with some key privatisation proposals hitting hurdles.
The sale of the entire 29.5 per cent stake in HZL would fetch the centre about Rs 38,560 crore at current share market price. The government may sell its shares in tranches through offer for sale (OFS), and the sale will be structured by the Department of Investment and Public Asset Management (DIPAM).
Hindustan Zinc, the world’s second biggest zinc producer, operates the world’s third largest open-pit mine, and world’s largest Zinc Mine in Rampura Agucha, Rajasthan.
