Hindustan Zinc share price slipped over 6 per cent to ₹455.60 apiece on NSE in Wednesday’s trading session after 7.2 crore shares changed hands in a block deal on June 18.
According to CNBC TV18 report, shares worth ₹3,323 crore, which is 7.2 crore shares or 1.71 per cent of the company’s equity—were traded in block deals at a price of ₹460 each.
The shares were expected to be offered at a discount of up to 10% from their previous closing price, with DAM Capital and Citi serving as the lead managers for the deal.
As of the end of the March quarter, Vedanta owned 63.42% of Hindustan Zinc, according to exchange filings. The Government retained a stake of over 25%, while the remaining shares were held by LIC and foreign portfolio investors, resulting in a very limited public float. Individual retail investors, defined as those with shareholdings up to ₹2 lakh, accounted for just 2.5% of the company’s ownership.
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