The government has organised several road shows in cities like Mumbai, London, Boston and New York in the last 15 days to assess the market and meet investors for selling its stake in Vedanta Group company Hindustan Zinc Ltd. According to Bhasha news, the government is the largest minority shareholder in Hindustan Zinc with a 29.5 percent stake. Mines Secretary V.L. Kanta Rao said on the sidelines of a training-cum-workshop on UNESCO Global Geoparks and Geoparks in India that the road shows were organised to promote disinvestment.
Roadshows were conducted in these cities
According to the news, the government is committed to divest some of its stake in Hindustan Zinc Limited. For this, several road shows were conducted in the last 15 days to assess the market and meet investors. He said that road shows were conducted in Mumbai, Singapore, Hong Kong, London, Boston, New York. Road shows have been conducted in all major financial capitals. The government had earlier said that it is committed to selling its stake in Hindustan Zinc through the Offer for Sale (OFS). All decisions will be taken after assessing the market.
Discussion on the proposal to split the company
In 2021, the Supreme Court allowed the government to sell its remaining stake in Hindustan Zinc in the open market. Meanwhile, Hindustan Zinc Limited (HZL) Chief Executive Officer (CEO) Arun Mishra said on Wednesday that the company has held fresh discussions with the government on a proposal to split the company into two parts instead of the three proposed earlier.
Mishra had said that discussions with the government regarding the division of Hindustan Zinc were very good. Earlier, the Ministry of Mines had written a letter to the company informing it that any restructuring of business operations would require the approval of the ministry.
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