Vedanta to sell Zinc International assets to Hindustan Zinc for $2.98 bn
1 year, 11 months ago

Vedanta to sell Zinc International assets to Hindustan Zinc for $2.98 bn

Live Mint  

Anil Agarwal led Vedanta Ltd on Thursday informed that the company will sell its Zinc International assets to Hindustan Zinc Limited for cash consideration $2,981 million. The company's board of directors in a meeting held on 19 January approved the sale of its Zinc International assets held by THL Zinc Ventures Ltd, wholly owned subsidiary of Vedanta, through THL Zinc Ltd. THL Zinc Ltd will become a wholly owned subsidiary of Hindustan Zinc. "Board of Directors of the Company, in its meeting held today, considered and approved the proposed sale of its Zinc International assets held by THL Zinc Ventures Ltd, a direct wholly owned subsidiary of the Company, through THL Zinc Ltd comprising shares held in Black Mountain Mining Pty Ltd, South Africa and THL Zinc Namibia Holdings Ltd, Namibia, to the proposed wholly owned subsidiary of Hindustan Zinc Limited another listed subsidiary of the Company, for a cash consideration not exceeding USD 2,981 million, such that THLZ becomes a wholly owned subsidiary of the SPV.," Vedanta said in its regulatory filing. Hindustan Zinc on Thursday reported a 20 per cent decline in consolidated net profit to ₹2,156 crore for the December 2022 quarter.

Company Mauritius Zinc Vedanta Subsidiary Hindustan Hindustan Zinc Thl Thlz Zinc International Assets Thl Zinc Ltd International Assets  hindustan  bn  wholly  thl  vedanta  zinc  held  mauritius  subsidiary  company  international  assets  owned  298  sell  crore

History of this topic

Hindustan Zinc emerges preferred bidder for gold mine block, set to expand precious metal portfolio
1 month, 1 week ago

Hindustan Zinc emerges preferred bidder for gold mine block, set to expand precious metal portfolio

Live Mint  

Hindustan Zinc announced that it has emerged as the preferred bidder for a gold mine block in Rajasthan that will help it expand its precious metal portfolio. “Securing the Dugocha Gold Block is a testament to our prowess in strategic mineral exploration to tap diverse mineral resources to support the nation's rapid economic growth and emerging needs,” said Arun Misra, …

Hindustan Zinc share price declines 7.5% as OFS for 2.5% stake by government starts today
1 month, 2 weeks ago

Hindustan Zinc share price declines 7.5% as OFS for 2.5% stake by government starts today

Live Mint  

Stock Market Today: Hindustan Zinc share price declined more than 7% in the morning trade on Wednesday, November 6 as the offer for sale of a 2.5% stake by the government kicked off today. Hindustan Zinc share price opened at ₹520.85 on the BSE on Thursday, almost 7% lower than the previous closing price of ₹559.45. Hindustan Zinc share price …

Hindustan Zinc OFS: Govt to sell 2.5% in Vedanta subsidiary to raise over ₹5,000 crore; Check floor price, key dates
1 month, 2 weeks ago

Hindustan Zinc OFS: Govt to sell 2.5% in Vedanta subsidiary to raise over ₹5,000 crore; Check floor price, key dates

Live Mint  

Hindustan Zinc OFS: The government will sell up to 2.5 per cent of its stake in Hindustan Zinc through an offer for sale at a floor price of ₹505 per share. The government will divest 1.25 per cent equity with an additional 1.25 per cent as greenshoe option," said Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey …

Vedanta promoter to sell 2.5% stake in couple of weeks
6 months ago

Vedanta promoter to sell 2.5% stake in couple of weeks

New Indian Express  

NEW DELHI: Billionaire Anil Agarwal-led Vedanta Resources is reportedly planning to sell a 2.5% stake in Indian listed firm Vedanta Ltd through block deals in the next couple of weeks. Finsider International, which is part of Vedanta Resources, sold more than 6.55 crore Vedanta shares at Rs 265.14 apiece for Rs 1,700 crore. In the last two years, Vedanta Resources, …

Hindustan Zinc reports strong sequential quarterly performance
11 months ago

Hindustan Zinc reports strong sequential quarterly performance

New Indian Express  

Metal producer Hindustan Zinc Ltd reported a strong third quarter performance, with a profit after taxes of Rs 2,028 Crores, up 17% quarter-over-quarter. Revenue from operations during the quarter was Rs 7,310 Crore, up 8% q-o-q on account of better zinc & silver volumes, higher zinc prices and favourable exchange rates, partly offset by lower lead prices and volumes. The …

Vedanta incorporates Vedanta Base Metals; shares gain over 3%
1 year, 2 months ago

Vedanta incorporates Vedanta Base Metals; shares gain over 3%

Live Mint  

Vedanta news: Vedanta Ltd has incorporated its base metals unit Vedanta Base Metals Ltd with an authorised share capital of ₹1 lakh, the company said in an exchange filing today. Under the terms of the Companies Act, 2013, Vedanta Base Metals Ltd was established as a public company on October 09, 2023. Vedanta demerger The current business will be divided …

Vedanta Q2 aluminium production rises 2% YoY to 5.94 lakh tonnes
1 year, 2 months ago

Vedanta Q2 aluminium production rises 2% YoY to 5.94 lakh tonnes

Live Mint  

Vedanta Ltd reported a 2% rise in its total aluminium production to 5,94,000 tonnes in the second quarter of FY24. At Zinc International, Vedanta said its total mined metal output declined by 10% to 66,000 tonnes from 74,000 tonnes, year-on-year. The company's overall production during Q2FY24 at 66 kt was lower by 10% YoY and 3% QoQ largely due to …

Vedanta Resources nears $3 billion refinancing deal
1 year, 2 months ago

Vedanta Resources nears $3 billion refinancing deal

Live Mint  

Billionaire Anil Agarwal’s Vedanta Resources Plc is in advanced talks with JPMorgan Chase and Standard Chartered Bank to secure a $3 billion refinancing facility to stave off a default, people familiar with the development said. Vedanta Resources Finance II Plc’s $1 billion dollar bonds are maturing on 21 January 2024, while Vedanta Resources’ $951 million bonds are maturing on 9 …

Vedanta plans zinc business shake-up as debt payment looms
1 year, 2 months ago

Vedanta plans zinc business shake-up as debt payment looms

Hindustan Times  

Billionaire Anil Agarwal is exploring an overhaul of his lucrative Indian zinc unit that could split out its three core businesses, as part of the wider Vedanta group’s efforts to reduce a multibillion dollar debt load. Vedanta chairman Anil Agarwal Hindustan Zinc Ltd. said in a statement that it could create separate legal entities for its zinc & lead, silver, …

Hindustan Zinc shares surge on corporate restructuring plan
1 year, 2 months ago

Hindustan Zinc shares surge on corporate restructuring plan

Live Mint  

Hindustan Zinc on Friday said that its board has authorised the Committee of Directors to evaluate appropriate corporate restructuring exercise. The Board of Directors of Hindustan Zinc have decided that considering the scale, nature, and potential opportunities for various business verticals of the company, it should undertake a comprehensive review of its corporate structure for unlocking potential value. The strategic …

Stocks to Watch: Tata Motors, Cipla, Infosys, Zee Ent, Vedanta, Sun Pharma, and Others
1 year, 3 months ago

Stocks to Watch: Tata Motors, Cipla, Infosys, Zee Ent, Vedanta, Sun Pharma, and Others

News 18  

Stocks to Watch on September 15: GIFT Nifty on the NSE IX traded 11.5 points, or 0.06 per cent, higher at 20,229, signaling that Dalal Street was headed for positive start on Friday. Sun Pharma: LIC on Thursday said it has sold 2 per cent of its holding in Sun Pharma for Rs 4,699 crore via open market sale. Vedanta …

Vedanta clears loans due till April, cuts debt by $1 bn more
1 year, 8 months ago

Vedanta clears loans due till April, cuts debt by $1 bn more

Live Mint  

New Delhi: Anil Agarwal-promoted Vedanta Resources Ltd, the parent company of Vedanta Ltd, announced on Monday that it has paid off all maturing loans and bonds due in April, reducing its gross debt by an additional $1 billion. Vedanta Resources Ltd has $500 million bonds maturing in May and another $1 billion bond due in January 2024. The group has …

Vedanta pledges more Hindustan Zinc stake for loan
1 year, 8 months ago

Vedanta pledges more Hindustan Zinc stake for loan

Live Mint  

Billionaire businessman Anil Agarwal-owned Vedanta Ltd, the promoter of Hindustan Zinc Ltd, has pledged 2.44% more shares of the latter as collateral to avail a term loan of ₹1,500 crore. The latest pledge of 103.24 million promoter shares, executed on 17 April, has increased the total amount of HZL’s shares pledged to 59.3% from 55.87% in March 2022, according to …

From SBI Cards to Hindustan Zinc 3 stocks turning ex-dividend tomorrow: Do you own any?
1 year, 8 months ago

From SBI Cards to Hindustan Zinc 3 stocks turning ex-dividend tomorrow: Do you own any?

Live Mint  

Dividends are a portion of the company’s profit that is issued among the eligible shareholders in the form of cash or additional shares of stocks. Here are SBI Cards, Hindustan Zinc and Brand Concepts, the 3 stocks that are going to turn ex-dividend tomorrow 29th March 2023. Commenting on the technical outlook of the stock, Rahul Ghose, Founder & CEO …

Vedanta says stake sale talks baseless; shares tumble
1 year, 9 months ago

Vedanta says stake sale talks baseless; shares tumble

Live Mint  

Indian billionaire Anil Agarwal-led Vedanta Ltd said on Thursday that talks of any stake sale in the mining major was "untrue and baseless", reported Reuters, after a media report that the tycoon was weighing selling less than 5% stake in the company. Agarwal is studying options including selling a minority stake in Vedanta as he looks to shrink his commodities …

Vedanta’s Anil Agarwal said to weigh stake sale as last-resort option
1 year, 9 months ago

Vedanta’s Anil Agarwal said to weigh stake sale as last-resort option

Live Mint  

Indian tycoon Anil Agarwal is studying options including selling a minority stake in Vedanta Ltd. as he looks to shrink his commodities business empire’s massive debt load, according to people familiar with the matter. Agarwal’s Vedanta Resources Ltd., which owns about 70% of Vedanta, has been in talks with at least three banks for a loan of as much as …

Hindustan Zinc share price jumps 5% after announcement of 1300% dividend
1 year, 9 months ago

Hindustan Zinc share price jumps 5% after announcement of 1300% dividend

Live Mint  

The stock of Vedanta Group firm Hindustan Zinc Ltd soared 5 per cent to ₹325.2 in Wednesday's trade after HZL's board approved a fourth interim dividend of ₹26 per equity share or 1,300 per cent for FY2022-23 amounting to ₹10,985.83 crore. "The board of directors of the company in its meeting held on March 21, 2023 have approved fourth interim …

Why Vedanta share price is nosediving — explained
1 year, 9 months ago

Why Vedanta share price is nosediving — explained

Live Mint  

Vedanta share price has been nosediving for last four straight sessions. Vedanta share price today opened lower on fourth day in a row and hit intraday low of ₹261.95 apiece on NSE, logging around 13.50 per cent dip in this time. According to stock market experts, Vedanta shares are under sell off pressure due to negative sentiments after the road …

Vedanta must take care not to sound like India’s next Adani
1 year, 9 months ago

Vedanta must take care not to sound like India’s next Adani

Live Mint  

Highly leveraged Indian tycoons are having a rough time. Anil Agarwal’s once-London-listed Vedanta Resources has a pile of debt, including a $1 billion bond due January. Around this time last year, when the US Fed was still to begin raising interest rates to tame inflation and Russia’s war in Ukraine had started to send commodities surging, Agarwal was toying with …

Stocks to Watch: Adani Group, HDFC, Glenmark, Vedanta, IOC, Coal India
1 year, 10 months ago

Stocks to Watch: Adani Group, HDFC, Glenmark, Vedanta, IOC, Coal India

Live Mint  

Here is the list of the top 10 stocks that will be in focus today: Adani Group: Executives of the embattled Adani Group told investors in a call that they will address deadlines to repay debt with options including private placement notes and cash from operations. HDFC: Mortgage lender Housing Development Finance Corp Ltd on Thursday said it has raised …

Vedanta cuts debt by $2 bn ahead of plans
1 year, 10 months ago

Vedanta cuts debt by $2 bn ahead of plans

The Hindu  

Billionaire Anil Agarwal's Vedanta Resources Ltd on Wednesday said it has slashed debt by $2 billion in the current fiscal as it looked to soothe investor concerns over ability to repay upcoming obligations. In a statement, the company said it has "deleveraged by $2 billion in the past 11 months, thus achieving half of its $4 billion 3-year debt reduction …

Vedanta Q3: PAT decline by 42% to ₹3,092 cr , declares dividend of ₹12.5
1 year, 10 months ago

Vedanta Q3: PAT decline by 42% to ₹3,092 cr , declares dividend of ₹12.5

Live Mint  

Vedanta Ltd on Friday reported 42 per cent decline in consolidated net profit to ₹3,092 crore for the December 2022 quarter. I am also happy to share that Vedanta and Hindustan Zinc Limited Boards have taken strategic initiative to consolidate Zinc International under Hindustan Zinc. It will be a win-win transaction, unlocking significant value for both Vedanta Limited and Hindustan …

Vedanta to sell its international zinc business to Hindustan Zinc: Report
1 year, 11 months ago

Vedanta to sell its international zinc business to Hindustan Zinc: Report

Hindustan Times  

Anil Agarwal-promoted Vedanta on Thursday said it will sell Zinc International assets to Hindustan Zinc for a cash consideration of USD 2,981 million. The Vedanta's board approved the sale of Zinc International assets held by THL Zinc Ventures Ltd, a direct wholly-owned subsidiary of the metals and mining major. The assets held THLZV through THL Zinc Ltd comprising shares held …

Hindustan Zinc chairperson Kiran Agarwal steps down, Priya Agarwal to take over
1 year, 11 months ago

Hindustan Zinc chairperson Kiran Agarwal steps down, Priya Agarwal to take over

Live Mint  

Hindustan Zinc, a subsidiary of Vedanta, on Thursday informed that the company's chairperson and director, Kiran Agarwal has stepped down, with effect from 18 January, 2023. Hindustan Zinc's nomination and remuneration committee has approved the appointment of Priya Agarwal to the position of chairman of the company, with immediate effect. "Accordingly, the Board of Directors in its meeting held on …

Hindustan Zinc declares third interim dividend of ₹5,493 cr, fixes record date
1 year, 11 months ago

Hindustan Zinc declares third interim dividend of ₹5,493 cr, fixes record date

Live Mint  

Mining company, Hindustan Zinc announces a third interim dividend to the tune of whopping ₹5,493 crore on Thursday. As per the regulatory filing, Hindustan Zinc said that the board has approved a third interim dividend of ₹13 per equity share which is 650% of the face value of ₹2 per share for the fiscal year FY23. Hindustan Zinc has fixed …

Hindustan Zinc Q3 net profit at ₹2,156 crore; co declares dividend of ₹13
1 year, 11 months ago

Hindustan Zinc Q3 net profit at ₹2,156 crore; co declares dividend of ₹13

Live Mint  

Hindustan Zinc, a subsidiary of Vedanta, on Thursday reported a consolidated net profit of ₹2,156 crore for the December quarter, which is 20% lower than ₹2,701 crore reported in the year-ago period. “Hindustan Zinc delivered best-ever 9 months refined metal on the back of highest ever mined metal. In FY22, we reached the one million tonne mined metal landmark, and …

Stocks to Watch: TCS, M&M, Tata Power, Vedanta, Dr Reddy’s, Hindustan Zinc
2 years, 5 months ago

Stocks to Watch: TCS, M&M, Tata Power, Vedanta, Dr Reddy’s, Hindustan Zinc

Live Mint  

Here's is the list of top 10 stocks that will be in focus today: Tata Consultancy Service: The IT giant is set to announce its financial performance for the quarter ended June today, flagging off the earnings season for the IT sector. Tata Power: The company announced to invest over ₹75,000 crore in renewables in the next five years. Mahindra …

Centre to sell its entire stake in Hindustan Zinc, claim sources
2 years, 6 months ago

Centre to sell its entire stake in Hindustan Zinc, claim sources

India Today  

The union cabinet has cleared the selling of the government's remaining stake in Hindustan Zinc, according to sources. Currently, the government owns a 29.5 per cent stake in Hindustan Zinc. The Supreme Court had on November 18 last year allowed the Centre to disinvest its residual 29.5 per cent stake in Hindustan Zinc Limited in the open market. HINDUSTAN ZINC …

Vedanta to invest up to USD 20 bn in semiconductor biz in India, rollout by 2025
2 years, 10 months ago

Vedanta to invest up to USD 20 bn in semiconductor biz in India, rollout by 2025

The Hindu  

Indian conglomerate Vedanta has earmarked $15 billion for its foray into the electronic chip and display manufacturing space, and plans to scale up the investment to as much as $20 billion, a senior company official said. It expects to roll out display units, for use in mobile phones and electronics devices, by 2024 and electronic chips from Indian manufacturing plants …

Vedanta Resources Will Not Fund Deal with Bharat Petroleum, says Founder Anil Agarwal
2 years, 10 months ago

Vedanta Resources Will Not Fund Deal with Bharat Petroleum, says Founder Anil Agarwal

News 18  

Vedanta Ltd.’s possible acquisition of state-run Bharat Petroleum Corporation Ltd will not be done using its parent company’s fund. A day after the mining firm announced its plan to set up specific funds with strategic investors for the deal, the company’s founder and chairman Anil Agarwal has emphasized that Vedanta Resources’ funds will not be utilized for the acquisition. Agarwal …

Hindustan Zinc Disinvestment Case: Supreme Court Commences Hearing
3 years, 1 month ago

Hindustan Zinc Disinvestment Case: Supreme Court Commences Hearing

Live Law  

The Supreme Court on Monday commenced hearing on the plea by National Confederation of Officers' Associations of Central Public Sector Undertakings and one more petitioner in the Hindustan Zinc disinvestment case. Meanwhile, we also learnt by this time that the HPCL disinvestment judgment had come where it was held by the Supreme Court that if an Act of Parliament says …

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