India, June 18 -- Vedanta sold 66.70 million shares or 1.60 percent of total shares in its subsidiary Hindustan Zinc, amounting to Rs. 3,028 Crore. Vedanta sold the shares to institutional investors by way of an accelerated bookbuild process, which is a quick method of issuing securities when a company wants to raise capital quickly.
With a market capitalisation of Rs. 1,78,470 Crore, the stock of Vedanta Limited opened at Rs. 463.60, up 1.02 percent from yesterday's close, and after opening, it made a high of Rs. 467.60, up 1.89 percent. Additionally, the shares of Hindustan Zinc opened at Rs. 462.40 and made a low of Rs. 451.50, down 7.17 percent
Why Vedanta sold stake in Hindustan Zinc
Vedanta stated that the transaction will help ...
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