Hindustan Zinc to consider offering of NCD worth Rs4,000cr on September 22; stock up 1%

The above issuance is pursuant to the approval of the Board of Directors in its meeting held on July 21, 2020, the company has informed the exchanges on Thursday.

Sep 18, 2020 12:09 IST India Infoline News Service

Hindustan Zinc Ltd
Shares of Hindustan Zinc Ltd (HZL) gained in the noon trade on the BSE after the company said it proposes to raise upto Rs4,000cr via debentures.

“We would like to inform you that the Company proposes to offer Rated, Unsecured, Redeemable, Non-Cumulative, Non-Convertible Debentures aggregating upto Rs4,000cr in one or more tranches, and in this regard is holding a meeting of its duly constituted committee of the Directors on September 22, 2020. The above issuance is pursuant to the approval of the Board of Directors in its meeting held on July 21, 2020,” the company has informed the exchanges on Thursday.

The stock is currently trading at Rs217.30, up by Rs1.25 or 0.58% from its previous closing of Rs216.05 on the BSE.

The scrip opened at Rs215.90 and has touched a high and low of Rs220 and Rs215.90 respectively.

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