Cabinet clears sale of govt's 29.58 pc stake in HZL valued at Rs 38,000 crore

Updated: few hours ago

New Delhi, May 25 (PTI) The Union Cabinet on Wednesday approved the sale of the government's residual 29.58 per cent stake in Hindustan Zinc Ltd, which at current prices would fetch over Rs 38,000 crore to the exchequer, sources said.

The Cabinet Committee on Economic Affairs (CCEA) approved the sale of 124.9 crore shares government holds in the zinc producer which was sold to mining mogul Anil Agarwal's Sterlite Industries in 2002.

Sources with direct knowledge of the development said the stake sale modalities will be decided by the DIPAM.