HUL ice-cream unit demerger to take effect on Dec 1; board sets record date

Hindustan Unilever Ltd (HUL) has set December 5, 2025 as the record date for determining eligible shareholders who will receive shares of Kwality Wall’s (India) Ltd (KWIL) under the company’s ice-cream business spin-off.



The announcement comes after HUL received the certified copy of the NCLT order approving the Scheme of Arrangement between HUL and KWIL. The Board noted that all conditions under Clause 20 of the Scheme

— including filing the NCLT orders with the Registrar of Companies — have now been completed.

The tribunal sanctioned the demerger order on October 30, 2025, followed by a rectification order on November 6, 2025, HUL said in an earlier exchange filing.

The move aligns with Unilever PLC’s global decision to carve out its ice-cream operations into an independent business. HUL’s board had cleared the proposal on January 22, 2025, noting that the ice-cream vertical operates with a distinct business model, supply chain requirements, and capital intensity, warranting a standalone structure.

Under

the approved scheme, shareholders of HUL will receive one equity share of ₹1 each in KWIL for every fully paid-up HUL share held, reflecting a 1:1 share entitlement ratio.

The tribunal observed that separating the business would enable HUL and the new entity to sharpen strategic focus, allocate capital more effectively, and unlock long-term shareholder value. The demerger will create a separately listed ice-cream company housing brands such as Kwality Wall’s, Cornetto, and Magnum, with its own management and growth roadmap.

This context precedes HUL’s latest announcement setting December 1, 2025 as the effective date of the demerger.