The government, which holds a 29.5% stake in HZL and 49% stake in Balco, is looking at exiting the two companies in which the Anil Agarwal -led Vedanta group holds the majority stake. The government sold controlling stakes in the companies between 2001-2003. The government sold a 51% stake in Balco to Vedanta firm Sterlite Industries (now Sesa Sterlite Ltd. ) in 2001. The valuation of the remaining 49% stake in Balco has remained a bone of contention as the aluminium major is not a listed entity.