Govt Raises Rs 3,449 Cr Via 1.6% Sale In HZL

New Delhi: The government has raised Rs3,449 crore through offer-for-sale (OFS) in Hindustan Zinc Ltd (HZL) by selling about 1.6 per cent stake. Through the two-day OFS on November 6-7, the government had proposed to sell over 5.28 crore shares, or 1.25 per cent stake, with a Greenshoe option to retain additional subscriptions of a similar amount. As per the official data, the government has raised Rs3,449.18 crore from the OFS.

On the first day of the share sale offer on November 6, the institutional investors had placed bids for close to Rs3,400 crore shares or about 1.58 per cent stake. Retail investors’ demand was somewhat muted on November 7.