By Kosaku Narioka

Hindustan Zinc Ltd. will consider raising up to 40 billion Indian rupees ($543.6 million) by selling debt.

The Indian mining company said late Thursday that the debt is neither secured by collateral or convertible to equity.

Hindustan Zinc said a meeting of directors would be held on Tuesday to consider the offering.

Write to Kosaku Narioka at kosaku.narioka@wsj.com