Government to Sell Residual Stake in Hindustan Zinc Limited
The Indian Government has decided to sell its stake in Hindustan Zinc Limited (HZL) following the Supreme Court’s decision on 18th November 2021 which allowed the Government to sell its remaining 29.4% stake in the company.
The estimated value of Government’s shareholding is about ₹ 40,000 Crore. The Indian Government said that all options of disinvestment including open market sale will be considered and then a call on the timing of this sale will be taken.
Supreme Court in its order has also directed a CBI probe into the 2002 disinvestment of HZL shares, listing several reasons suspecting foul play including the decision at the time to sell 26% instead of 25%.