HZL directors' panel approves raising up to Rs 1,400 cr via debentures

Vedanta group firm Hindustan Zinc Ltd on Monday said its committee of directors on Monday approved raising up to Rs 1,400 through debentures. The meeting was held on Monday, Hindustan Zinc Ltd (HZL) said in a filing to BSE. ''The duly authorised Committee of Directors... has considered and approved the allotment of 42,000 unsecured, redeemable, rated, listed nonconvertible debentures having a face value of Rs 1,00,000 each, aggregating up to Rs 420 crore and 98,000 unsecured, redeemable, rated, listed non-convertible debentures having a face value of Rs 1,00,000 each, aggregating up to Rs 980 crore where the cumulative principal amount of... shall not exceed Rs 1,400 crore,'' HZL said in a filing to the BSE. The fundraising holds significance as Hindustan Zinc ramps up capacity to meet surging global demand for zinc -- vital for galvanised steel, EVs, and renewables -- while exploring rare earths and other critical minerals under government incentives. It aligns with India's Atmanirbhar Bharat push, reducing import dependence amid Vedanta's big-ticket investment commitments in metals. Hindustan Zinc is the country's largest zinc producer and the world's second-biggest integrated zinc-lead-silver miner.