Govt initiates Hindustan Zinc valuation process

Govt initiates Hindustan Zinc valuation process

 The Finance Ministry has started the process for fresh valuation of Hindustan Zinc Ltd (HZL), seeking to push through a long-pending sale of the government's residual stake in the company in the current financial year.

The Department of Disinvestment has invited proposals from merchant bankers or chartered accountant firms with experience in handling valuation of companies.

"The government has decided to undertake fresh valuation and assessment of fair share value of HZL," the department said. Proposals have been sought by June 27, it added.HZL had a paid-up capital of Rs 845 crore as of March 31, 2013. The government holds 29.54 per cent stake in the company.

The government sold majority stakes in the erstwhile PSU to the Vedanta group during 2001-03. At present, London-listed Vedanta holds 64.92 per cent in HZL.

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