2 weeks Ago
Hindustan Unilever (HUL) shares will be in focus on Tuesday after the FMCG major announced the completion of its acquisition of a 90.5% stake in Uprising Science, the parent company of skincare brand Minimalist, for Rs 2,706.44 crore.
The deal was executed through a combination of primary infusion and secondary share purchase, HUL said in a stock exchange filing. The acquisition follows the terms outlined in the Share Purchase and Subscription Agreement (SPSA).The FMCG major had sought clearance from Competition Commission of India to acquire the beauty and personal care brand in January 2025.
The acquirer (HUL) proposes to acquire 90.5% shareholding of the target (Uprising Science Pvt Ltd), with eventual acquisition of the remaining 9.5% shareholding of the target in about two years from the completion date as per the terms set out in the share purchase & subscription agreement executed by and between the parties, a notice filed with the fair trade regulator CCI had said on January 29.
Jaipur-based Uprising Science is engaged in the manufacturing and sale of beauty and personal care products, baby care and hair care items under the brand name 'Minimalist'.While both companies operate in overlapping segments, the transaction is unlikely to alter competitive dynamics significantly, HUL had earlier said. The companies have identified key markets relevant to the deal, including the manufacturing and sale of beauty and personal care, skincare, and hair care products in India, said an ET report.
Also Read:Stocks in news: HCL Tech, Waaree Energies, HUL, Tata Power, Mahindra LogisticsHUL shares price targetAs per Trendlyne data, the average target price of the stock is Rs 2,616, which indicates an upside of 11% from the current market prices. The consensus recommendation from 38 analysts for the stock is a 'Buy'.HUL shares price performanceIn the previous session, HUL shares closed 1% lower at Rs 2,350.
The stock has declined 13% over the past six months and 6% over the last two years. The company’s market capitalisation stands at Rs 5,52,153 crore.Also Read: Rich Dad Poor Dad author Robert Kiyosaki predicts Bitcoin will double to $200k by 2025(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of the Economic Times).
