Archive · 19 Nov 2025
HUL Splits Ice-Cream Business, Kwality Walls, on Dec 1, 2025
Hindustan Unilever Ltd (HUL) is splitting its ice-cream business, Kwality Walls, into a separate company.
On December 1, 2025, this change will happen.
Shareholders will get one share of the new company for each HUL share they own.
This is because the ice-cream business has its own way of working and needs, so it's better to have it as a separate company.
HUL sets Dec 5, 2025 as record date for Kwality Walls spin-off
Demerger approved by NCLT, all conditions met
Shareholders to receive KWIL shares in 1:1 ratio
Demerger to create separately listed ice-cream company
Unilever's global decision to carve out ice-cream operations
- Who
- Hindustan Unilever Ltd (HUL)
- What
- Splitting ice-cream business Kwality Walls into a separate company
- When
- Effective Dec 1, 2025
- Where
- India
- Why
- To create a standalone structure for the ice-cream business with its own management and growth roadmap
HUL's Perspective
Shareholder's Perspective
Business Model
HUL's Perspective
Ice-cream unit operates differently, needs separate management
Shareholder's Perspective
Concern about potential impact on share value and portfolio
Capital Allocation
HUL's Perspective
Separate unit can focus on its own financial needs
Shareholder's Perspective
Worried about potential dilution of HUL's core business
- Record Date
- Dec 5, 2025
- New Company
- Kwality Walls (India) Ltd (KWIL)
- Share Entitlement Ratio
- 1:1
- Brands in New Company
- Kwality Walls, Cornetto, Magnum
- Approval Date
- Oct 30, 2025 (NCLT order)
Sources
HUL ice-cream unit demerger to take effect on Dec 1; board sets record date
HUL Demerger: FMCG giant announces record date for Kwality Wall's spin off — Check key details, shareholding ratio here
HUL Demerger: Record date, share ratio and 7 ‘must know’ details every investor need to know
HUL Sets December 5 As Record Date For Ice-Cream Business Demerger; Here's What Investors Must Know
