Hindustan Zinc plans to raise Rs 1,400 cr via NCDs

New Delhi: A Hindustan Zinc panel on Friday approved a proposal to raise Rs 1,400 crore by issuing non-convertible debentures (NCDs).The company plans to raise this amount in two tranches of Rs 980 crore and Rs 450 crore, it said in an exchange filing.

“Committee of Directors has approved the issuance of unsecured, redeemable, rated, listed, non-convertible debentures aggregating up to Rs 1,400 crore, which NCDs are to be issued in the following 2 (two) separately transferable and redeemable principal parts...,” it said.The NCDs will be listed on the BSE. In a separate statement, the company said it has awarded contracts to Sedgman and Leighton Asia for the development of a zinc tailings recycling facility at its flagship Rampura Agucha Mines (RAM) in Rajasthan.Tailings are finely ground remnants left after mineral extraction.

Traditionally classified as waste, tailings often contain residual quantities of valuable metals that were not recoverable through earlier processing technologies.