Vedanta subsidiary Hindustan Zinc share price jumps after THIS fundraise update worth ₹5,000 crore

Stock Market Today: Vedanta subsidiary Hindustan Zinc share price gained during the intraday trade on Friday, June 6, following a fundraising move of ₹5,000 crore.

Hindustan Zinc's fundraise move

Hindustan Zinc share price gained after Vedanta informed the stock exchanges — the National Stock Exchange of India (NSE) and the BSE — about the update on the fundraise. 

Vedanta told exchanges that certain undertakings have been provided by the company in relation to the equity shares of Hindustan Zinc Limited.

As per the release, Vedanta said that it has has approved the issuance of unsecured, listed, rated, non-convertible, redeemable debentures. These debentures of up to ₹5,000 crore will have a face value of ₹1,00,000 each, on a private placement basis, in one or more series. Vedant Ltd also said that with regards to the Debenture issue, Axis Trustee Services Limited has been appointed as the Debenture Trustee and a Debenture Trust Deed, dated June 03, 2025, has been executed between the company and Axis Trustee Services Limited.

Vedanta Ltd clarified that until full and final redemption of the Debentures, the company is required to directly remain the legal and beneficial owner of 50.1% of the share capital of Hindustan Zinc or HZL (on a fully diluted basis), and directly control Hindustan Zinc. The company is also restricted from creating any security over or disposing of 50.1% of the entire issued share capital or voting rights in Hindustan Zinc Ltd.

Hindustan Zinc share price movement

Hindustan Zinc share price opened at ₹501.95 on the BSE on Friday. At the time of opening, Hindustan Zinc's share price was up 2% compared to the previous day's closing price of ₹492.10. The Vedanta subsidiary thereafter gained further to intraday highs of ₹510.75, and this meant intraday gains of around 3.8% for the Hindustan Zinc share price.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.