That values the sale at 80.05 billion rupees (about $954 million), based mostly on Hindustan Zinc’s inventory closing value of 571.75 rupees on Wednesday.
The share sale is scheduled for Aug. 16 and Aug. 19 for a ground value of 486 rupees, as per a BSE round.
The inventory dropped 1.4% on the day. Vedanta had mentioned after the markets closed on Tuesday that it might promote a 2.6% stake.
Final month, the miner raised 85 billion rupees by way of a share placement.
Vedanta’s UK-based mum or dad, Vedanta Sources, is in search of to chop its debt by $3 billion over the following three years, it mentioned earlier this yr.
($1 = 83.9190 Indian rupees)
(By Manvi Pant; Enhancing by Savio D’Souza and Maju Samuel)