Vedanta pledges 5.77% stake in Hindustan Zinc for Rs 8,000-cr term loan

The Cabinet Committee on Economic Affairs had last month approved the sale of the government's remaining stake of 29.5% in Hindustan Zinc

Vedanta Ltd on Wednesday said it has pledged 5.77 per cent stake in Hindustan Zinc Ltd for a term loan of Rs 8,000 crore.

The announcement comes days after the Cabinet Committee on Economic Affairs (CCEA) approved the government's 29.5 per cent stake sale in Vedanta group firm Hindustan Zinc Ltd (HZL).

"...to secure the term loan facility of Rs 8,000 crore...VEDL (Vedanta Ltd) has created encumbrance in the form of Pledge (5.77 per cent of the paid-up share capital of HZL) and NDU (non-disposal undertaking) (50.10 per cent of the paid-up share capital of HZL) in respect of its shareholding in