How much is the government likely to collect from the Hindustan Zinc sale?

It is close 20 years since the last tranche of Hindustan Zinc was sold to the Vedanta Group (then called Sterlite Industries). Finally, after a long wait, the Cabinet Committee on Economic Affairs (CCEA) has finally approved the total divestment of Hindustan Zinc. Currently, Vedanta group owns 64.9% while the government of India owns 29.5% with the balance being held by the public shareholders; both individual and institutional.

Now the government plans to hive off its entire stake of 29.5% in HZL and wants to complete the same in this FY23 itself. At current market prices, it would fetch the government around Rs.38,200 crore. However, DIPAM is yet to confirm whether the divestment will be in tranches or in bulk. A quick look back. The first tranche of 26% in HZL was divested in 2002 to Vedanta group by the Vajpayee government. Later, Vedanta bought another 20% via open offer and in 2003, exercised call option for another 18.9% in HZL.