GSK to offload HUL stake worth Rs 26,000 cr in largest secondary sale

Over 133 million shares, or 5.7% of the paid-up capital, are being offered for Rs 1,850-1,950 to investors through a special block window

UK-based Glaxo-SmithKline (GSK) will offload shares worth Rs 26,000 crore in FMGC major Hindustan Unilever (HUL) on Thursday.

Over 133 million shares — 5.7 per cent of the total equity shares — are being offered in the range of Rs 1,850-1,950 to investors through a special block window, according to the term sheet reviewed by Business Standard.

Shares of HUL closed at Rs 2,002 on Wednesday, down 1.9 per cent on the NSE. In the past fortnight, shares have declined 16 per cent on account of the share sale overhang, coupled with the earnings disappointment. The benchmark Nifty has remained