Chairman of Vedanta Group, Anil Agarwal, has hailed Hindustan Zinc Limited (HZL) as a "crown jewel" of the conglomerate, emphasising its global standing and remarkable financial performance. Agarwal underscored HZL's significant contributions to India's economy and national security through its production of strategic minerals like zinc and silver.
In a post on X, Agarwal said: "Hindustan Zinc is a crown jewel for Vedanta.
As the world’s second-largest integrated producer of Zinc and third-largest Silver producer, HZL continues to create immense value for all its shareholders.
Agarwal said that in the past two decades, HZL has delivered total shareholder returns of 562x. In the past 10 years itself, HZL’s dividend payouts are over Rs. 1.1 lakh crore – amongst the highest in the country.
Committed to nation-building, Hindustan Zinc has contributed around Rs. 80,000 crore to the national exchequer in last five years, he claimed.
"The future for HZL shines bright as it supplies both Zinc & Silver, which are key minerals for national security, and drives up capacities for both with a strong focus on recycling and future minerals. Let’s stay single-mindedly focused on serving the needs of a rapidly growing nation," he said in the post.
Hindustan Zinc Limited's (HZL) offer for sale (OFS) commenced on August 16 and concluded on August 19, with a floor price set at ₹486 per share.
Earlier this month, HZL's parent company, Vedanta, revised its planned stake sale in HZL from 2.60 per cent to 3.31 per cent through the OFS route.
"This is in supersession of the earlier approval of the Committee of Directors and the intimation filed by the Company dated August 13, 2024," the company stated in a filing on August 14.
The company clarified that only non-retail investors would be permitted to submit bids on August 16, 2024, Mint reported earlier this month.
