IANS | 01 Oct, 2023
The Board of Directors of Hindustan Zinc have decided that
considering the scale, nature, and potential opportunities for various
business verticals of the Company, the Company should undertake a
comprehensive review of its corporate structure for unlocking potential
value.
Subject to a detailed evaluation, the idea is to create
separate legal entities for undertaking the Zinc & Lead, Silver, and
Recycling business of the Company.
To this end, the Board of
Directors have authorised a committee of directors to evaluate and
recommend such options and alternatives to the Board of Directors.
The
strategic objectives outlined by the Board of Directors for undertaking
such an exercise are unlocking value for all stakeholders, creation of
businesses which are positioned to better capitalize on their distinct
market positions, deliver long-term growth, distinct investment profiles
to attract deeper and broader investor bases, accelerate towards
sustainability goals focused on waste to wealth, emissions reduction and
strong ESG practices, appropriate capital structure and capital
allocation policies based on business specific dynamics, sharpen focus
on core competencies and appropriate realignment of the Company’s
resources.
The management will appoint the external advisors to
assist in evaluating the options and together will update the way
forward to the Board of Directors.
