Hindustan Zinc Ltd.

Vedanta Plc, the london-based metals and energy giant, reportedly is planning to up its offer by another 10% for acquiring Union government's stake in Hindustan Zinc (HZL) and then merge it with Sesa Sterlite, by early next financial year. A merger of Sesa Sterlite with HZL will help the former to repay the loans worth $3.5 billion it took to acquire Cairn India.

Meanwhile, the government currently owns 29.5% in HZL and its stake is valued at Rs 15,630 crore, a 10% hike will sweeten the offer by another Rs 1,500 crore for the government and increase the total acquisition cost for Vedanta at Rs 17,000 crore.

In a complex restructuring announced last year, Vedanta merged its two Indian companies, Sesa Goa and Sterlite, into a combined entity called Sesa Sterlite and transferred its entire dollar debt to Sesa Sterlite, taken to buy Cairn India. With this, Sesa Sterlite had net debt of $6.6 billion as of March this year.