Curtains were brought down on one of the biggest share buyback programmes on Dalal Street through which Unilever hoped to hike stake in Indian arm.

Curtains down on Unilever’s mega buyback offer for HUL shares | Business Line

This open offer was for acquiring It had targeted the level of 75 per cent. The open offer, priced at Rs a share, opened on June 21, and ended today.

Buy-back of Shares | Investor Relations | Hindustan Unilever Limited website

The Hindustan Unilever stock closed at Rs However, FMCG analysts believed the move was triggered owing to a slowdown in its European markets. They also felt that move could be a possible precursor to delist HUL from the Indian bourses in the future given that India is one of the biggest markets for Unilever and it would be beneficial to acquire a larger share in the Indian arm.

Sharekhan Securities FMCG analyst Kaustaubh Pawaskar said: Institutional and retail investors too would look at profit-booking through the open offer.

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