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HUL sets up fully-owned subsidiary Unilever India

Wednesday, 02 Jun 2021
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Hindustan Unilever has set up a new fully-owned subsidiary, Unilever India, in 2020 that will help the maker of Rin and Dove significantly lower taxes under corporate tax rate reduction.

Presently, the company is in the process of setting up its manufacturing facility at Sumerpur, Uttar Pradesh. It is proposed to manufacture spray drying washing powders at this factory. The company is in the process of issuing shares of Rs 300 crore by preferential allotment.

In 2020, the company had announced it will set up a new unit with an authorised capital of Rs 2,000 crore to leverage on enablers including corporate tax as well as 'Make in India' initiative.

 

 
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