News > Vedanta estimated to have raised Rs 3,200 cr from HZL OFS

Vedanta estimated to have raised Rs 3,200 cr from HZL OFS

Mining conglomerate Vedanta Ltd is estimated to have raised around Rs 3,200 crore from the offer for sale (OFS) of subsidiary Hindustan Zinc Ltd. Vedanta will utilise the proceeds generated from the OFS for deleveraging its balance sheet and investment in its growth projects. This, coupled with the Rs 8,500 crore qualified institutional placement, will help bring down debt at the company as well as at the group level.