FMCG major Hindustan Unilever (HUL), has successfully completed the acquisition of a 90.5% stake in Uprising Science for Rs 2,706.44 crore.
Uprising Science is the parent company of the direct-to-consumer (D2C) beauty and personal care brand, Minimalist.
In a regulatory filing, HUL stated, “Pursuant to Regulation 30(7) of the Securities and Exchange Board of India Regulations, 2015, it is now informed that the Company has completed the acquisition of 90.5% shareholding of Uprising and through a combination of primary infusion and secondary acquisition for a total cash consideration of Rs 2,706,44,95,728, in accordance with the terms and conditions of the SPSA.”
Consequent to the above acquisition, Uprising and its subsidiaries have become subsidiaries of the Company, the Company mentioned. The FMCG giant had approached the Competition Commission of India in January 2025, seeking approval to acquire the beauty and personal care brand.
