Bharat Aluminium is now part of Sterlite Industries Ltd, which is majority-owned by Vedanta.

The Indian government has a 49% stake in Bharat Aluminium and a 29.54% stake in Hindustan Zinc.

The government “had asked us if we will be interested to take its stakes in HZL [Hindustan Zinc] and Balco [Bharat Aluminium]. We answered in the affirmative. As per the prevailing market price, we have offered INR160bn for buying these stakes. That was in January,” Vedanta Chairman Anil Agarwal was quoted as saying by the news agency.

Mr. Agarwal added that the government has not yet responded to its offer.