Vedanta Limited on Wednesday confirmed that it has sold 66.7 million shares in Hindustan Zinc Limited, a subsidiary of the company, to institutional investors by way of an accelerated bookbuild process. The shares represent a 1.6 per cent stake of the issued ordinary share capital. In a regulatory filing, the Anil Agarwal-led company said that the gross proceeds from the sale of shares amount to Rs 3,028 crore.
Vedanta stated that the ongoing capital raise will support its efforts to reduce debt and improve financial flexibility as it moves forward with the demerger into distinct, sector-focused entities.
This transaction, the conglomerate said, reflects “continued investor confidence in Vedanta’s strategic direction, particularly the progress made over recent quarters in delivering record production, driving cost efficiencies, and execution of its deleveraging and demerger initiatives aimed at long term value creation for all stakeholders”.
Earlier, CNBC TV18 report had maintained that Vedanta is planning to sell shares worth Rs 7500 crore of Hindustan Zinc.
At the end of the March quarter, Vedanta held 63.42 per cent stake in Hindustan Zinc, the government held over 25 per cent stake, while the rest was held by LIC and FPIs, leaving very little public float.
Dividend announcement
In another filing on the exchanges, Vedanta also declared its first interim dividend of Rs 7 per share for FY26.
It said, “…the Board of Directors of Vedanta Limited (the Company), at its meeting held today i.e. Wednesday, June 18, 2025, has considered and approved the First Interim Dividend of Rs 7 per equity share on face value of Re 1 per equity share for the Financial Year 2025-26 amounting to c. Rs 2,737 crore.”
The record date for the purpose of payment of dividend, it announced, shall be Tuesday, June 24, 2025.
Shares of Vedanta Ltd were down 0.88 per cent at 2:20 pm today at a trading price of Rs 454.85.