Vedanta sold 1.6% stake in this company for ₹3,028 crores, know what is the strategy
Vedanta Limited said that it has sold 1.6 percent stake in its unit Hindustan Zinc Limited (HZL) for about Rs 3,028 crore. Anil Agarwal-led Vedanta Group is actively moving towards separating its business, so the money raised through stake sale will help improve the balance sheet and increase financial flexibility, which will enable each separated unit to pursue its independent development plans.
66.7 million shares have been sold
According to the news, as Vedanta is actively moving towards separating its business, the money raised through stake sale will help improve the balance sheet and increase financial flexibility. This will enable each separated unit to pursue its independent development plans. In a regulatory filing, the company said it has sold 66.7 million shares in Hindustan Zinc Ltd to institutional investors through an accelerated bookbuild process, representing 1.6 per cent of the issued ordinary share capital.
The deal reflects continued investor confidence
The gross proceeds from the sale of shares are about Rs 3,028 crore. The filing said the transaction reflects continued investor confidence in Vedanta’s strategic direction, particularly the progress made in recent quarters in the execution of its deleveraging and demerger initiatives aimed at delivering record production, enhancing cost efficiency and long-term value creation for all stakeholders. Earlier, Vedanta Ltd had said it expects to complete the demerger of its businesses by the end of September this year.
Business to be split into six independent companies
Vedanta Ltd had said that after the demerger, its existing businesses would be structured into six independent companies – Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel & Ferrous Materials, Vedanta Base Metals and Vedanta Ltd. However, it later revised the plan. In a separate filing, Vedanta said its board has approved a first interim dividend of Rs 7 per equity share for 2025-26, amounting to about Rs 2,737 crore. “The record date for payment of dividend shall be Tuesday, June 24, 2025 and the interim dividend shall be paid within the timelines prescribed under the law,” the filing said.
