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CCEA approves sale of its remaining 29.5% stake in Hindustan Zinc: Report

25 May 2022 Evaluate

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.

Peers
Company Name CMP
Hindalco Industries 939.90
Vedanta 266.55
Hindustan Zinc 558.30
Jain Resource Recycl 290.10
CMR Green Tech 226.55
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