HUL buys back shares worth Rs 626 cr

HUL buys back shares worth Rs 626 cr
6 Feb, 2008, 2151 hrs IST, AGENCIES

FMCG major Hindustan Unilever today said it has bought back over three crore shares of the company worth Rs 626.27 crore from the shareholders.

Pursuant to the company's buyback offer, which started on October three, 2007 and closed on January 31 this year, HUL has bought 3.02 crore shares at an average price of Rs 207.13 each, it informed the Bombay Stock Exchange.

The buy-back was effected through open market route and therefore does not attract the provisions of SEBI regulations.

Post buy-back, the authorised share capital of the company stands at Rs 225 crore comprising 225 crore shares at a price of Re one each.

After the buy back, the promoter shareholding has increased to 52.12 per cent on January 31 as against 51.4 per cent on September 24, 2007.

While the institutional investors (MFs, banks, FIs and FIIs) holding has increased to 29.99 per cent from 29.80 per cent in September last year.

The shareholding of corporate bodies, Indian public, NRIs has come down to 17.89 per cent on January 31 from 18.80 per cent in September last year.