Vedanta has pledged 5.77 per cent stake in Hindustan Zinc for a term loan of Rs 8,000 crore. The announcement comes days after the Cabinet Committee on Economic Affairs (CCEA) approved the government's 29.5 per cent stake sale in Vedanta group firm Hindustan Zinc (HZL).
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.