InvestorQ : What is the purpose of Hindustan Zinc raising over Rs.3500 crore via NCDs?
Rashi Mehra made post

What is the purpose of Hindustan Zinc raising over Rs.3500 crore via NCDs?

Answer
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Archita Jajjoo answered.
4 weeks ago


Hindustan Zinc has already raised Rs.3520 crore through the issue of non-convertible debentures or NCDs. The company issued 35,200 listed, unsecured, redeemable NCDs of Rs.10 lakh each on a private placement basis.

Hindustan Zinc is a leading zinc-lead miner. It is the cash rich subsidiary of Vedanta Ltd owned by Mr. Agarwal. Vedanta owns 64.9% stake in Hindustan Zinc while the Government of India holds the balance 29.5%. HZL is raising these funds to fund its expansion.