The Indian government sold a portion of its stake in Hindustan Zinc. The sale involved up to 2.5% of the company's shares. This move caused share prices to drop over 7% on the Bombay Stock Exchange. The floor price for the sale was set at a discount compared to recent market values.

Miner Hindustan Zinc said on Tuesday the Indian government, its largest minority shareholder will sell a total 2.5% stake in the company and valued the sale at 53.34 billion rupees (about $634 million).

The Indian government plans to divest 1.25% of its equity stake in HZL, with an option to sell an additional 1.25% as a green shoe option. Shares of Hindustan Zinc Ltd ended at ₹559.45, up by ₹16.25,

The Centre will sell up to 2.5 per cent stake in Hindustan Zinc at a floor price of ₹505 per share – a 10 per cent-odd discount over the current price - through an Offer for Sale (OFS) starting November 6, the Ministry of Mines has said in a notification to the bourses. The sell has been long awaited.

The Indian government will sell 2.5% stake in Hindustan Zinc Limited through an offer for sale (OFS) at a floor price of Rs 505 per share, aiming to raise over Rs 5,000 crore. The OFS opens for institutional bidders on Wednesday and for retail investors on Thursday.

Hindustan Zinc share price declined more than 7.% in the morning trades on Wednesday. Offer for sale for 2.5% stake sale by the government starts today

The floor price for the same is fixed at Rs 505 a piece, which is nearly 10% discount to the current market price.

The union government on Tuesday proposed to sell up to 2.5% stake in Hindustan Zinc through an offer for sale (OFS), which opens on November 6. The floor price for the same is fixed at Rs 505 apiece,