Hindustan Zinc Shares Plunge 7% as Vedanta Sells 1.71% Stake for ₹3,323 Crore

nc Ltd.'s share price dropped 7% to ₹452.50 in morning trade on the NSE today, following a block deal by its parent company, a offloaded 7.2 crore shares, representing a 1.71% stake, at a floor price of ₹460.5 per share—a 5.2% discount from the previous close of ₹485.95. The transaction, valued at approximately ₹3,323 crore, was part of Vedanta’s strategy to monetize its holdings, with the company holding a 63.42% stake in Hindustan Zinc as of December 31, 2024, per BSE filings. The sale, facilitated by DAM Capital Advisors and Citi, reflects Vedanta’s ongoing efforts to manage debt and enhance liquidity, despite Hindustan Zinc’s recent announcement of a ₹12,000 crore expansion plan.