Friday, June 06, 2025 | 08:17 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Govt planning to oppose Hindustan Zinc's proposal to buy Vedanta assets

The plan was pushed through even after government officials refused to approve it, they said, adding the government is trying to nudge Hindustan Zinc to withdraw the proposal

Vedanta
premium

Analysts have flagged the costly acquisition would run down cash reserves at Hindustan Zinc in which Vedanta holds about 65%

Bloomberg
The government is planning to oppose Hindustan Zinc Ltd.’s proposal to buy global zinc assets of Vedanta Ltd. for $2.98 billion, people familiar with the matter said.

The government, which has nearly 30% stake in Hindustan Zinc that it intends to sell through offer-for-sale mechanism, is likely to vote against the plan on concerns ranging from high valuations to it being a related party transaction, the people said, asking not to be named as the information is not public.

The plan was pushed through even after government officials refused to approve it, they said, adding the government is trying to nudge Hindustan