Based on its current stake post the OFS, Vedanta is likely to earn Rs 5,091 crore through the dividend payout.
In an exchange filing on Monday, Vedanta said that it has sold 1.51 per cent stake in Hindustan Zinc through the OFS, bringing down its total stake in the company to 63.42 per cent from 64.92 per cent earlier.
Last week, Hindustan Zinc’s promoter Vedanta Ltd. announced that it will look to sell up to 3.17 per cent equity of Hindustan Zinc through an Offer For Sale that went through Friday and Monday.
In financial year 2023, Hindustan Zinc had made a record dividend payout of nearly Rs 32,000 crore, following up with a Rs 5,493 crore payout in financial year 2024.
Shares of Hindustan Zinc are currently trading 1.4 per cent higher at Rs 502.8. The stock fell nearly to the same level as that of the floor price of its OFS at Rs 486 post Monday’s fall.
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