DEA clears decks for Hindustan Zinc’s stake sale

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.