Govt to auction 20 critical mineral blocks post polls; OFS for Hindustan Zinc only after testing market: Mines Secy
Vedanta Group firm Hindustan Zinc, Rao reiterated government plans to offload its minority 29.54% stake through an offer for sale (OFS) but said this would happen only after testing the market. "We are committed to OFS," Rao said on the sidelines of the event adding that the market was not yet ready and that the exercise would be done after gauging investor interest through roadshows.
"Demerger, anyway, we have not agreed," the mines secretary said. Hindustan Zinc had said that it will continue to engage with the Centre on its proposal to split the company into different entities, Rao added.
The company had said it is still in talks with the mines ministry on the proposal and is trying to address some issues. The Vedanta group firm had announced plans to spin off its businesses into separate entities, including zinc and silver, to increase its market capitalization.
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