(Photo : Wikimedia Commons)
Hindustan Zinc

The Indian government successfully organized roadshows in cities like Mumbai, New York, Boston, and London to woo investors ahead of a share sale in Hindustan Zinc. 

The Indian government currently holds a 29.5 percent stake in the mining company and is the largest minority shareholder in the firm. 

The roadshow lasted for 15 days, and during the program, officials met with potential investors who wish to buy stakes in the firm. 

Roadshow to Initiate Divestment Process

VL Kantha Rao, India's Mines Secretary said that the roadshow was part of a divestment process, as the government plans to sale some of its stakes in the company. 

"The roadshow is about the divestment process. So, the government is committed to divestment of some of its stake in Hindustan Zinc Ltd and in that to assess the market and meet investors and all that several roadshows have happened in the last fifteen days," said Mines Secretary V L Kantha Rao, according to the Economic Times. 

He added: "They have happened in Bombay, Singapore, Hongkong, London, Boston, New York. So in all the majors financial capitals the roadshows have happened." 

A few weeks back, the government had said that it is committed to offloading its stake in Hindustan Zinc through an offer for sale, and the final decision will be made upon market conditions. 

Hindustan Zinc: All You Need to Know

Hindustan Zinc, formerly Central Public Sector Undertaking, was sold by the Government of India to Vedanta Limited when Atal Bihari Vajpayee and Bharatiya Janta Party Government was in power in the year 2003.

The company is currently the world's second-largest zinc producer, as well as the third-largest silver manufacturer. 

Hindustan Zinc currently exports its products to more than 40 countries worldwide. It also has a share of nearly 75 percent of the zinc market in India.