Hindustan Zinc Limited on March 20 received 2 offers for purchase of its 26 percent equity. The prospective buyers were Sterlite Industries Ltd and Indo Gulf Corp. Most of the foreign buyers reportedly withdrew at the last minute as the import duty on zinc was lowered in the latest budget from 35 percent to 25 percent which would affect the margins of the company.The two offers according to official sources have been very good and Sterlite appears to be the winner as its offer is said to be the best. The truth will be known on 28~(th) March when the cabinet committee on disinvestments will meet to take a final decision.
NSTL
