Hindustan Zinc Ltd.

Finance Ministry has started the process for fresh valuation of Hindustan Zinc, seeking to push through a long-pending sale of the government’s residual stake in the company. The government holds 29.5% in Hindustan Zinc. The Department of Disinvestment is looking for merchant bankers for the valuation, while the proposals would be sought by June 27.

During the previous the National Democratic Alliance (NDA) government in 1998-2004, Vedanta Resources Chairman Anil Agarwal had bought controlling stakes in Hindustan Zinc through divestment. The London-based Vedanta holds 64.92% stake in Hindustan Zinc.

As on March 31, 2014, the foreign institutional investors held 2.06% stake, while mutual funds, bodies’ corporate and individual shareholders held 1% stake each in the company.

Hindustan Zinc 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.