18.92% SHARES OF HINDUSTAN ZINC SOLD TO STERLITE

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18.92% shares of Hindustan Zinc Ltd. (HZL) held by Government of India have been sold to M/s. Sterlite Opportunities and Ventures Ltd. (SOVL) recently, for an amount of Rs. 323,88,01,115/-. M/s. SOVL presented a bankers’ cheque for the sale proceed to the Minister of State (IC) of Mines Shri Ramesh Bais.

As per the shareholder’s agreement M/s SOVL had submitted their call option notice to the Government to acquire further 7,99,50,657 shares representing 18.92% of the share capital of HZL.