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

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

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.