The board of Hindustan Unilever on Monday approved a proposal to form a new 100 per cent subsidiary, which will be be incorporated with an authorised share capital of ₹2,000 crore. This new subsidiary has been formed to leverage the growth opportunities in a fast-changing business environment and will help HUL become more agile and customer-focused. As HUL did not disclose much in a release to the exchanges, shareholders will closely monitor further developments.