In two sessions, the stock has declined 21.90% to currently trade at Rs 558.90, from its recent closing high of Rs 715.60 recorded on 29 January 2026.
The recent selling in this counter was trigger after the company’s promoter announced an offer for sale (OFS) to pare its stake in Hindustan Zinc.
Promoter Vedanta Limited had offered a base lot of 3,35,00,000 shares, representing 0.79% of the company’s equity. The offer included an oversubscription option for an additional 1,40,77,066 shares or 0.33% stake, taking the total divestment to 4,75,77,066 shares, or 1.13% stake.
As of September 2025, Vedanta Limited held a 61.84% stake in Hindustan Zinc.
The floor price had been set at Rs 685 per share, a discount of 5.73% to the stock’s previous close of Rs 726.60 on January 27, 2026.
The OFS opened on January 28 for non-retail investors. Retail investors were allowed to participate on January 29, along with non-retail bidders carrying forward unallotted bids. The offer was conducted through a special window on the BSE and NSE during market hours.
On Day 1 (T-day), the OFS had received subscription for 4,28,19,359 shares. It was subscribed 100.00% on the total non-retail offer size of 4,28,19,359 shares.
On Day 2 (T+1 day), the OFS received subscription for 1,12,61,549 shares. It was subscribed 236.70% on the total offer size of 47,57,707 shares.
Hindustan Zinc, a Vedanta Group company, is the world's largest integrated zinc producer and is amongst the top 5 silver producers globally. The company supplies to more than 40 countries and holds a market share of about 77% of the primary zinc market in India.
The company had reported 46.23% jump in consolidated net profit to Rs 3,916 crore on a 27.81% increase in revenue to Rs 10,627 crore in Q3 FY26 as compared with Q3 FY25.