Post the offer, GSK's holding will be 75 per cent from the present 43.2 per cent.
Given the strong prospects in the business, analysts expect the company to clock healthy growth of 15-20 per cent, going ahead.
The sensitivity segment has quadrupled in the past two years, due to the aggressive marketing effort of both GSK and Colgate.
The NPPA letter was issued to GSK on Wednesday.
The two companies agreed to form a joint venture by combining Novartis' over-the-counter division with GSK's consumer business to create a business with $10 billion in annual sales. GSK will hold a 63.5 per cent stake in the venture.
While a merger means HUL taking over GSK Consumer's assets, including its employees, any mention of retention of employees beyond the merger is missing in the deal.
Open offer to increase holding to 75%, fails to enthuse institutional investors.
In separate statements, the two companies said they will combine Novartis' over-the-counter division with GSK's consumer business, creating a new world-leading consumer healthcare business with $10 billion in annual sales.
The company is increasing its exposure to key emerging markets.
GSKAP takes care of all non-nutrition products whereas GSK Consumer Healthcare is a listed entity which deals only in nutritional products.
Amway surged by converting a multitude into sales agents.
On Tuesday, Novartis agreed to buy GSK's oncology products business for $14.5 billion, while selling its vaccines business, excluding flu, to GSK for $7.1 billion.
The 'in-principle' settlement of $3 billion is covered by existing provisions. GSK expects to make payments under a final agreement next year.
Horlicks widens brand appeal in increasingly competitive market.
As competition heats up, health drink brands like GSK, Mondelez, Nestle get more aggressive with promotions and promises.
Leading FMCG maker HUL said that it has received a demand notice of Rs 962.75 crore from the Income Tax Department and will go in for an appeal against the order. The notice relates to non-deduction of TDS on payment of Rs 3,045 crore to GlaxoSmithKline Consumer Healthcare (GSKCH) for the acquisition of Intellectual Property Rights of the Health Foods Drinks (HFD) business consisting of brands as Horlicks, Boost, Maltova, and Viva, according to a recent exchange filing.
Other Health Food Drinks brands of GSK -- Boost, Maltova and Viva -- would come to HUL's portfolio by virtue of the merger, making it a leading player in the segment.
Growth in cities has lagged villages as consumers troubled by persistently high inflation have cut spending in the past two years.
Fresh meat and seafood delivery unicorn Licious is intensifying its talent acquisition endeavours as it pursues profitability and readies for an initial public offering (IPO) within the next 24 months. Delightful Gourmet, Licious' parent company, has named 39-year-old Karishma Gupta as its new chief financial officer (CFO). Her appointment aligns with Licious' drive for profitable growth through an omnichannel strategy.
The transaction is an all equity merger with 4.39 shares of HUL being allotted for every share in GlaxoSmithKline Consumer Healthcare India
FIIs have offloaded shares of Bajaj Corp, Nestle, Jyothy Laboratories and Britannia.
There is no near-term respite for the country's largest fast-moving consumer goods maker, Hindustan Unilever (HUL), which is facing multiple challenges on the growth front. With demand showing no signs of improvement, especially in the rural segment, the October-December quarter (Q3) of 2023-24 (FY24) is likely to be similar to the previous quarter, with volume growth in the low single digits. The stock, which is down 7 per cent over the past year compared to the 11 per cent jump for the S&P BSE Sensex, could underperform the benchmark in the near term as well.
FMCG major HUL on Friday announced the appointment of Rohit Jawa as the managing director & chief executive officer to succeed Sanjiv Mehta who will retire from the company after leading it for a decade. Jawa, presently the Chief of Transformation for Unilever, would take over the leadership role for a term of five consecutive years with effect from June 27, 2023, the company said in a statement. "The appointment of Rohit Jawa as a whole-time director and MD & CEO will be subject to approval of Shareholders and other statutory approvals as may be applicable," it added.
ITC has provided retailers with leaflets to assure customers of Yippee noodle's quality and safety standards
A probe finds several pharma majors in breach of the law; and in turn they blame the government.
ITC on Monday said it is conducting more tests on its products at accredited labs across India.
The British pharma and consumer products maker had announced the open offer in November last year to raise its stake in its subsidiary to 75 per cent from 43.16 per cent at present.
Leading FMCG firm HUL on Thursday said it has switched to green fuel alternatives such as biomass and biodiesel and has eliminated the usage of coal across its operations. The company has collaborated with biomass suppliers and local farmers to ensure sustainable supply of green fuel and has made the necessary changes for the renewable transition in its coal-fired boilers, said an HUL statement. Besides, the shift from coal to renewable energy sources has also resulted in savings for the company, it added.
GlaxoSmithKline, the world's second biggest drug maker, said it was interested in acquisitions in India if the assets came at the right value.
Anglo-Dutch parent's stake in Indian subsidiary rises from 52.5% to 67.3%.
While Unilever has been aggressive, both organically and inorganically in the country, P&G's approach has been about achieving 'balanced growth' in terms of top line and bottom line.
This goes a long way in creating an ethical organisation culture that in turn helps attract talent.
Some big ones hoard cash unduly and others borrow to keep up payments to shareholders
Advertising taglines such as 'Bright in studies, bright in sports' attempted to drive home the message that Bournvita, a chocolate drink, could build a child's mental and physical faculties.
A glance back at some of the important ups and down Indian Inc faced in 2018.
India was the flavour of the year, at least in the FMCG sector, as multinationals hiked stakes in their subsidiaries lured by long term potential of the country, while homegrown executives made their way to top hierarchy of global firms in 2013.
@015 may be a good year for FMCG firms.
If you are not happy with the price offered at buybacks, you could be in for a long haul.
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