The Indian government sold a portion of its stake in Hindustan Zinc. The sale involved up to 2.5% of the company's shares. This move caused share prices to drop over 7% on the Bombay Stock Exchange. The floor price for the sale was set at a discount compared to recent market values.

Miner Hindustan Zinc said on Tuesday the Indian government, its largest minority shareholder will sell a total 2.5% stake in the company and valued the sale at 53.34 billion rupees (about $634 million).

After the government announced plans to sell up to 2.5% of its shareholding through an offer for sale (OFS), shares of Vedanta company Hindustan Zinc Ltd. fell as much as 8% on November 6. A 1.25% initial divestment is part of the OFS,

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Moneycontrol had reported back in August that an OFS for Hindustan Zinc was expected before the end of FY25, following the Cabinet's 2022 approval to sell the government’s entire stake in the company.

Hindustan Zinc share price declined more than 7.% in the morning trades on Wednesday. Offer for sale for 2.5% stake sale by the government starts today

The Indian government plans to divest 1.25% of its equity stake in HZL, with an option to sell an additional 1.25% as a green shoe option. Shares of Hindustan Zinc Ltd ended at ₹559.45, up by ₹16.25,

The Indian government, in a recent development, has taken a step towards disinvestment, announcing a plan to sell up to a 2.5 per cent Hndustan Zinc Limited (HZL) through an Offer for Sale (OFS). The announcement of this made through an exchange filing by Hindustan Zinc.