Govt plans to resist Hindustan Zinc's proposal to buy Vedanta assets

08 Feb 2023 CW Team

The government intends to reject Hindustan Zinc's offer to pay $2.98 billion for the global zinc assets of Vedanta.

The government which plans to sell its nearly 30% stake in Hindustan Zinc through an offer-for-sale mechanism, is likely to vote against the plan due to worries about everything from high valuations to the fact that it involves a related party.

They added that the government is attempting to persuade Hindustan Zinc to withdraw the proposal and claimed that the idea was forced through despite government officials' refusal to approve it.

Last month, Hindustan Zinc and its parent company decided to buy THL Zinc Mauritius' assets in 18 months in a phased acquisition. THL's businesses include Skorpion Zinc (Pty) in Namibia and Black Mountain Mining (Pty) in South Africa.

Analysts have warned that the expensive deal will deplete Hindustan Zinc's cash reserves, which Vedanta owns approximately 65% of. Regular dividend payments from the unit to the parent have assisted in increasing cash flow for Vedanta Resources.

Also read:
BKT launches EARTHMAX Crusher Haul & EARTHMAX SR 34
Schwing Stetter unveils silver jubilee logo and tagline

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..