Stock Market Today: Vedanta subsidiary Hindustan Zinc share price gained during the intraday trades on Friday. The gains for Hindustan Zinc share prices was propelled by THIS fundraise move worth ₹5000 crore.
Vedanta Ltd, subsidiary Hindustan Zinc share prices gained as Vedanta intimated the National Stock Exchange of India and the BSE or the Bombay stock Exchange about the update on fundraise. Vedanta Ltd intimation was in connection with certain undertakings provided by the Company in relation to the equity shares of Hindustan Zinc Limited , a subsidiary of the Company.
As per the release Vedanta Ltd said that it has has approved issuance of unsecured, listed, rated, non-convertible, redeemable Debentures. These Debentures of up to ₹5,000 Crore will be having a face value of ₹1,00,000 (Indian Rupees One Lakh only) each, on a private placement basis, in one or more series. Vedant Ltd also said that in with regards to the Debenture issue Axis Trustee Services Limited has been appointed as the Debenture Trustee and a Debenture Trust Deed, dated June 03, 2025 has been executed between the Company and Axis Trustee Services Limited, as the Debenture Trustee.
Vedanta Ltd clarified that until full and final redemption of the Debentures, the Company is required to directly remain the legal and beneficial owner of 50.1% of the share capital of Hindustan Zinc Ltd or HZL (on a fully diluted basis), and directly control Hindustan Zinc Ltd or HZL. The Company is also restricted from creating any security over or disposing 50.1% of the entire issued share capital or voting rights in Hindustan Zinc Ltd or HZL.
Hindustan Zinc share price opened at ₹501.95 on the BSE on Friday and at the time of opening the Hindustan Zinc share price was up 2% compared to the previous days closing price of Rs. 492.10 . The Vedanta subsidiary Hindustan Zinc share price thereafter gained further to intraday highs of ₹510.75 and this meant intraday gains of around 3.8% for Hindustan Zinc share price.
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