According to persons familiar with the situation, India is thinking of selling up to 2% of Hindustan Zinc Ltd. in a deal that may yield up to 5,000 crore ($525 million).
The persons, who asked not to be named because the information is confidential, stated that the Finance Ministry's Department of Investment and Public Asset Management hopes to start the procedure this month or in July.
According to the people, the government is receiving transaction advice from ICICI Securities Ltd., Axis Capital Ltd., IIFL Capital Services Ltd., and HDFC Securities Ltd.According to insiders, the offering's specifics, such as its timing and amount, are still up for debate. Requests for comment were not immediately answered by DIPAM, Hindustan Zinc, or bank representatives.

To increase revenue from selling shares in state-owned assets, the government has intensified its efforts. It sold a 2% share in Coal India Ltd., the biggest coal producer in the nation, last week to raise roughly $531 million. India sold a 6% share in NHPC Ltd. earlier this week to raise $450 million. According to people familiar with the situation, it is also preparing to market a 2% interest in Life Insurance Corporation of India, which may raise up to 10,000 crore ($1 billion).
In November, the government raised approximately ₹3,500 crore by selling a 1.6% share in Hindustan Zinc. Each share was priced at ₹505.Since then, the stock has increased by roughly 24%, making the remaining position more valuable. According to stock exchange filings, the government held 27.92 percent of Hindustan Zinc as of March 31, while Vedanta Ltd., the company's dominant stakeholder, held 60.71 percent.