Facing strong opposition from the government, Hindustan Zinc Ltd (HZL) is unlikely to act on the proposal to buy parent Vedanta’s global zinc business for $2.98 billion in a cash deal, The Economic Times reported, citing people aware of the matter.
“HZL isn’t going to pursue this plan now,” one of them told ET.
Another person said, “HZL hasn’t presented any non-cash deal option to the government yet. It is likely to hold its next board meeting on 21 April, by which time the current proposal would have lapsed.”
RK Swamy Advertising Associates has initiated the process to launch an initial public offering (IPO) to unlock value, setting the stage for one of the most unusual stock market debuts of the year, multiple people with knowledge of the matter told Moneycontrol.
If the listing plans of the company fructify, it would be the first ever IPO in India by a major integrated marketing services group.
The firm, which morphed into RK Swamy BBDO, and is now known as the RK Swamy Hansa Group, operates across four key service areas—advertising, interactive and media, market research, brand activation and data analytics.
