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

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, in a recent development, has taken a step towards disinvestment, announcing a plan to sell up to a 2.5 per cent Hndustan Zinc Limited (HZL) through an Offer for Sale (OFS). The announcement of this made through an exchange filing by Hindustan Zinc.