HUL ice-cream business to be effective from December 1

19 Nov 2025 , 12:12 PM

Hindustan Unilever Limited (HUL) announced that it has fixed December 5, 2025 as the record date for determining the eligibility of shareholders to receive shares of Kwality Wall’s (India) Ltd (KWIL) under the company’s ice-cream business demerger.

This announcement came after the company received the certified copy of the NCLT order approving the Scheme of Arrangement between HUL and KWL. 

The Board also said that all conditions under Clause 20 of the Scheme have now been concluded.

Furthermore, the tribunal announced this sanction on October 30, 2025. This was followed by a rectification order passed on November 6, 2025, stated the company in its filing with the bourses.

This demerger is in line with Unilever’s PLC’s global decision to flip its ice-cream operations into an independent business. The company received approval from its board on January 22, 2025. It noted that the ice-cream unit has a distinct business model for its operations, supply chain requirements, and capital intensity. Therefore, it needs a standalone structure.

As per the approved scheme, HUL shareholders will receive one equity share of ₹1 each in KWIL for each share held in HUL. Hence, the entitlement ratio is 1:1.

The tribunal also noted that separating this business will allow HUL and the new entity to enhance its strategic focus, allocation of effective capital, and unlock long-term shareholder value.

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