InvestorQ : Is it true that the government plans to divest its balance stake in Hindustan Zinc?
Anamika Sodhani made post

Is it true that the government plans to divest its balance stake in Hindustan Zinc?

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Angel dcosta answered.
3 weeks ago
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The Supreme Court has given permission to the Indian government to sell its residual 29.54% stake in Hindustan Zinc Limited in open market transactions. The majority holding in Hindustan Zinc with the Anil Agarwal owned Vedanta group. It is estimated that the value of the government stake in HZL would be worth close to Rs.40,000 crore.

This divestment, if it happens in the current fiscal, is expected to give a boost to the disinvestment target of the government for the current fiscal year. Government has set an aggressive target of Rs.175,000 crore from divestment and it will need much more than LIC and BPCL happening in this fiscal year. The Supreme Court, meanwhile, also directed the CBI to probe the 2002 divestment of 26% stake in HZL, instead of 25%.

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