The Department of Economic Affairs (DEA) has cleared the decks for Hindustan Zinc and Balco stake sale and now the mines ministry will take a final call. Through this stake sale the finance ministry expects to rake in Rs 25,000 crore.
Sterlite Industries, an Anil Agarwal-promoted company which was merged with Sesa Goa last month holds 64.92% stake in Hindustan Zinc and the rest of the stake is with the Government of India. Agarwal had already offered around Rs 17,000 crore for 29.54% stake to government.
Hindustan Zinc, country's only integrated zinc producer, manufactures three qualities of zinc -- special high grade zinc used in construction, infrastructure, household appliances etc; high grade zinc and prime western zinc. It manufactures silver used in photographic material, conductor, jewellery, etc.
