The company fell short of its target as it had planned to hike the stake in HUL to 75 per cent through the open offer from the earlier stake of 52.48 per cent.
NEW DELHI: Anglo-Dutch consumer goods giant Unilever PLC has increased its stake in the Indian arm Hindustan Unilever Ltd (HUL) to 67.28 per cent, following an open offer which commenced on June 21 and closed on Thursday.
The company fell short of its target as it had planned to hike the stake in HUL to 75 per cent through the open offer from the earlier stake of 52.48 per cent.
"Based on the shares tendered which represent 14.8 per cent of HUL, Unilever would increase its stake from 52.48 per cent to 67.28 per cent," Unilever Plc said in a statement on Thursday night.
The company fell short of its target as it had planned to hike the stake in HUL to 75 per cent through the open offer from the earlier stake of 52.48 per cent.
"Based on the shares tendered which represent 14.8 per cent of HUL, Unilever would increase its stake from 52.48 per cent to 67.28 per cent," Unilever Plc said in a statement on Thursday night.
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