Vedanta Group firm Hindustan Zinc Ltd on Wednesday (March 5) said it has scheduled a Committee of Directors meeting on March 10, 2025, to evaluate fundraising through the issuance of listed non-convertible debentures (NCDs) on a private placement basis, subject to market conditions.”…we hereby inform you that a meeting of the committee of directors of the Company (Committee) is scheduled to be held on Monday, March 10, 2025, inter alia, to consider and evaluate proposals for raising funds through the issue of listed non-convertible debentures on private placement basis, subject to market conditions,” Hindustan Zinc said in a regulatory filing.
The proposed issuance will be within the company’s borrowing limits and will require necessary approvals from stock exchanges and regulatory authorities. This follows a board resolution passed on January 28, 2025, authorising the company to explore debt-raising options.
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“The proposed issuance shall be subject to the borrowing limits of the Company and any necessary approvals from stock exchanges and other regulatory/governmental authorities, as may be required. This proposal follows the resolution passed by the Board of Directors at its meeting held on January 28, 2025,” it added.Hindustan Zinc posted a net profit of ₹2,678 crore, exceeding the CNBC-TV18 poll estimate of ₹2,479 crore. This represents a significant growth of 32% year-on-year (YoY) compared to ₹2,028 crore in the same quarter last year.
The proposed issuance will be within the company’s borrowing limits and will require necessary approvals from stock exchanges and regulatory authorities. This follows a board resolution passed on January 28, 2025, authorising the company to explore debt-raising options.
Also Read: Hindustan Zinc OFS: Government plans to sell 2.5% stake in Vedanta Unit
“The proposed issuance shall be subject to the borrowing limits of the Company and any necessary approvals from stock exchanges and other regulatory/governmental authorities, as may be required. This proposal follows the resolution passed by the Board of Directors at its meeting held on January 28, 2025,” it added.Hindustan Zinc posted a net profit of ₹2,678 crore, exceeding the CNBC-TV18 poll estimate of ₹2,479 crore. This represents a significant growth of 32% year-on-year (YoY) compared to ₹2,028 crore in the same quarter last year.
Revenue stood at ₹8,614 crore, beating the poll forecast of ₹8,390 crore and recording a YoY growth of 17.8% from ₹7,310 crore. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in at ₹4,499 crore, ahead of the CNBC-TV18 estimate of ₹4,349 crore.
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Shares of Hindustan Zinc Ltd ended at ₹411.35, up by ₹15.95, or 4.03%, on the BSE.
