HUL to form a new subsidiary
Feb 24, 2020, 18:14 IST
New Delhi, Feb 24 () FMCG major Hindustan Unilever Ltd (HUL) on Monday said it will set up a new step-down subsidiary with an authorised share capital of Rs 2,000 crore.
The company's board has approved a proposal to set up the subsidiary, it said in a statement.
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"This company will be incorporated with an authorised share capital of Rs 2,000 crore," HUL said.
"This new subsidiary has been formed to leverage the growth opportunities in a fast-changing business environment and will help HUL in becoming more agile and customer-focused," it added.
In 2018-19, HUL reported a revenue of Rs 38,224 crore.
Shares of HUL on Monday settled at Rs 2,216 apiece, down 1.42 per cent, on the BSE. KRH KRH ANUANU(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)