Hindustan Zinc shares jump 7% on fund-raising plan

Hindustan Zinc shares jump 7% on fund-raising plan
The stock jumped 7 per cent to Rs 222.75 on the BSE. At the NSE, it rose by 7 per cent to Rs 222.90.

Shares of Hindustan Zinc Ltd (HZL) on Wednesday gained 7 per cent after the corporate said its board-constituted panel has approved decide to agitate to Rs 4,000 crore through non-convertible debentures.

The stock jumped 7 per cent to Rs 222.75 on the BSE.

At the NSE, it rose by 7 per cent to Rs 222.90.

The approval on an equivalent was given during the meeting of the committee of directors persisted Tuesday, HZL said during a BSE filing on Tuesday.

“The duly authorised committee of directors…considered and approved offering for subscription on a personal placement basis, up to 40,000 unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) of a face value Rs 10,00,000 each,” the filing said.

It added that the fundraising would aggregate up to Rs 4,000 crore, including the choice to retain oversubscription of up to Rs 1,000 crore.

HZL may be a subsidiary of Vedanta Ltd

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