Metal major Vedanta Ltd on Friday said it will exercise an oversubscription option to the extent of 1.22% of 5.14 crore equity shares plus 1.21 crore equity shares or 0.29% in the ongoing offer (issue) for sale of Hindustan Zinc Ltd. A company’s total issued and paid-up equity share capital forms part of the base offer size.
In the issue, which opened to non-retail investors on Friday, Vedanta aims to sell up to 5,14,40,329 equity shares, representing a 1.22% stake in HZL.
Accordingly, the total offer size will be 1.51% of the total issued and paid up equity share capital out of which 63,60,590 equity shares i.e. 10% equity shares of the offer will be reserved for allotment to retail investors on T+1 day. August 19, 2024, the company said in a filing.
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