Vedanta's Strategic Stake Sale: A Move Towards Financial Flexibility
Vedanta Ltd, led by Anil Agarwal, has sold a 1.6% stake in Hindustan Zinc Ltd to raise Rs 3,028 crore. This sale aids in de-leveraging the company's balance sheet as part of its ongoing demerger process, facilitating independent growth for its future six demerged entities.
- Country:
- India
Led by Anil Agarwal, Vedanta Ltd announced on Wednesday its decision to divest a 1.6% stake worth nearly Rs 3,028 crore in its subsidiary, Hindustan Zinc Ltd (HZL). The sale aligns with Vedanta's broader strategy towards demerging its business segments, thereby boosting its financial manoeuvrability.
The company highlighted in a regulatory filing that the offloaded 66.7 million shares were acquired by institutional investors via an accelerated bookbuild process. This transaction reflects sustained investor trust in Vedanta's strategic journey, marked by significant achievements in production and cost efficiency.
Vedanta Ltd has communicated its commitment to completing its demerger by the end of September, after restructuring into six independent entities. In a fresh filing, the company also announced a first interim dividend payment for 2025-26, further reinforcing stakeholders' trust in its forward strategy.
(With inputs from agencies.)
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