Hindustan Zinc OFS gets bids worth Rs 3,400 cr from institutional investors

Quick Summary:

The government's offer-for-sale for more than 4.75 crore Hindustan Zinc Ltd (HZL) shares to institutional investors over-subscribed on Wednesday, with institutional buyers putting bids worth close to Rs 3,400 crore.

On the first day of the two-day OFS, bids came in for over 6.69 crore shares, which is 1.41 times the total of 4.75 crore shares on offer for institutional buyers.

Government has decided to exercise the green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on X.

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Category: BusinessFinance

Markets: India

Topics: Greenshoe option Govt Institutional investors Hindustan Zinc HZL OFS Divestment Stake sale

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 22:37:57 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 397 words

Reading Time: 3 minutes read

Sentences: 14 lines

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Copyright Owner: © Business Standard

News ID: 23450137

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