Key facts
- India is considering selling up to a 2% stake in Hindustan Zinc Ltd.
- The potential stake sale could raise approximately 50 billion rupees ($525 million).
- The transaction is part of a broader divestment drive.
- Several investment banks have been appointed to advise on the transaction.
- Hindustan Zinc shares fell sharply on Friday following the report.
The Indian government is reportedly considering selling up to a 2% stake in Hindustan Zinc Ltd. This potential share sale could generate approximately 50 billion rupees, which translates to about $525 million. The move is part of a broader divestment drive aimed at boosting revenue through public asset sales. Several investment banks have been appointed to advise on the transaction, which may occur this month or in July. Hindustan Zinc shares fell sharply on Friday after a report said the government may sell up to a 2% stake in the company to raise around Rs 5,000 crore. The proposed divestment comes amid broader disinvestment efforts, with recent stake sales in Coal India and NHPC.