Hindustan Zinc to raise Rs 4,000 cr through NCDs

Mumbai: Vedanta Group firm Hindustan Zinc Ltd (HZL) on Tuesday said its board-constituted panel has approved raising up to Rs 4,000 crore through debentures.

The approval on the same was given during the meeting of the committee of directors held on Tuesday, HZL said in a filing to the BSE.

The duly authorized committee of directors…considered and approved offering for subscription on a private placement basis, up to 40,000 unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) of a face value Rs 10,00,000 each, the filing said.

It added that the fundraising would aggregate up to Rs 4,000 crore, including the option to retain oversubscription of up to Rs 1,000 crore.

HZL is a subsidiary of Vedanta Ltd. Vedanta Ltd owns a 64.9 percent stake in the company, while the government retains a 29.5 percent stake.

 

NT Bureau