Hindustan Zinc OFS: Promoter Vedanta to exercise over subscription option

Metal major Vedanta Limited on Friday said it would exercise the oversubscription option in the ongoing offer for sale (issue) of Hindustan Zinc Limited to the extent of over 1.21 crore equity shares or 0.29% in addition to 5.14 crore equity shares representing 1.22% of the total issued and paid-up equity share capital of the company forming part of the base offer size.

In the issue which opened on Friday for non-retail investors, Vedanta aims to sell up to 5,14,40,329 equity shares, representing 1.22% of HZL’s stake.

Accordingly, the total offer size will be 1.51% of the total issued and paid-up equity share capital of which 63,60,590 equity shares i.e. 10% equity shares of the offer would be reserved for allocation to retail investors on T+1 day i.e. August 19, 2024, the company filing said.

More to come.....