HZL, Balco stake sale: EC nod sought for appointing valuers

Written By Unknown on Kamis, 03 April 2014 | 23.25

The government holds 49 per cent stake in Balco and 29.5 per cent in Hindustan Zinc Ltd (HZL). The Finance Ministry has already initiated the process of valuation the two companies.

The Disinvestment Department has approached the Election Commission seeking its approval for appointing valuers for government's residual stake in  Hindustan Zinc and Balco.

"We have written to the Election Commission seeking their nod for floating RFP (request for proposal) for appointment of valuers for HZL, Balco stake sale," a senior official of the Department of Disinvestment said.

"The valuers will take 6-8 weeks time for valuing the stake. We will then go ahead with appointment of merchant bankers," the official added.

The government holds 49 per cent stake in Balco and 29.5 per cent in Hindustan Zinc Ltd (HZL). The Finance Ministry has already initiated the process of valuation the two companies.

The government had initially planned to sell the residual stake in these two companies last fiscal. However, in interim Budget it postponed the stake sale to the current fiscal.

The government plans to mobilise Rs 15,000 crore from the stake sale in HZL and Balco in the current fiscal. In January, the Cabinet had cleared the stake sale in HZL and Balco through auction route.

During 2001-03, the government had sold majority stakes in the two erstwhile PSUs to Vedanta group. At present, London-listed Vedanta holds 64.92 per cent stake in HZL and 51 per cent in Bharat Aluminium Company (Balco).

In January, 2012, Vedanta had proposed acquisition of government's remaining stake in the two erstwhile PSUs for about Rs 17,275 crore.

In October, 2012, shareholders gave their nod to raise offers for acquiring the remaining government stake in HZL and Balco by up to 43 per cent or Rs 24,663 crore.

After shareholders approval, Vedanta Board is now empowered to make an offer of up to Rs 21,636.56 crore for the remaining government stake in HZL. For Balco, the offer can be up to Rs 3,026.14 crore.

Hind Zinc stock price

On April 03, 2014, Hindustan Zinc closed at Rs 130.25, up Rs 0.75, or 0.58 percent. The 52-week high of the share was Rs 141.80 and the 52-week low was Rs 94.00.


The company's trailing 12-month (TTM) EPS was at Rs 17.01 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 7.66. The latest book value of the company is Rs 76.39 per share. At current value, the price-to-book value of the company is 1.71.


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