Vedanta shares jump over 4%, hits record high as firm to sell up to 1.59% stake in Hindustan Zinc; OFS opens: details to know

The metal giant, on Tuesday, said it would sell up to a 1.59% stake in its subsidiary Hindustan Zinc (HZL) via offer for sale (OFS), which runs for two days, today and tomorrow (January 29).

Hindustan Zinc shares, on the other hand, were trading 0.18% lower at ₹725.90 on the NSE.

In its filing to stock exchanges last evening, Vedanta said that the company’s board has approved the sale of up to 67,000,000 equity shares of Hindustan Zinc Limited (HZL), representing 1.59% of HZL’s issued and paid-up equity share capital, through an offer for sale (OFS).

The floor price for the offer has been set at ₹685 per share. This is a 6% discount to the last traded price on the NSE.

Based on the number of shares offered under the OFS and the floor price of ₹685 per share, Vedanta is set to raise approximately ₹4,589.5 crore through the stake sale.

The OFS will be conducted over two trading days via a separate window of the stock exchanges on January 28 and January 29, 2026, from 9:15 a.m. to 3:30 p.m. IST on both days.

Non-retail investors: January 28, 2026 (T day).

Retail investors and non-retail investors opting to carry forward unallotted bids: January 29, 2026 (T+1 day).

OFS: Finer details

Vedanta Limited is the promoter of the company (HZL). The seller (Vedanta) proposes to sell up to 3,35,00,000 equity shares of the company (representing 0.79% of the total issued and paid-up equity share capital of the company) ("Base Offer Size") on January 28, 2026 ("T day") (for non-retail investors only) and on January 29, 2026 ("T+1 day") (for retail investors and for non-retail investors who choose to carry forward their unallotted bids from T day).

In case of oversubscription in the non-retail category, the seller may choose to exercise the oversubscription option, which will be intimated to the stock exchanges after trading hours, but on or before 5:00 p.m. on T day.

Accordingly, allocation to bidders in the non-retail category shall be done from the offer shares forming part of the base offer size and the oversubscription option.

Rationale behind OFS

The offer is being undertaken by Vedanta, inter alia, for strengthening and deleveraging the balance sheet and for optimising the capital structure of the company, it said.

The offer shall be undertaken exclusively through the seller's broker, on a separate window provided by the stock exchanges for this purpose.

"Retail Investor" shall mean an individual investor who places bids for offer shares of a total value of not more than ₹200,000 aggregated across stock exchanges.