Hindustan Unilever Limited (HUL), a leading FMCG company, is in the process of demerging its popular ice cream business, Kwality Wall’s (India) Limited (KWIL). The company confirmed that the demerger is underway and is expected to be completed by the end of the current financial year 2025 to 2026 (FY2026).
The demerger was first announced in January 2025. Once the process is complete, Kwality Wall’s will be listed as a separate entity on the stock exchange. The company received regulatory approvals from both the BSE and NSE in May.
According to the demerger scheme, shareholders of HUL will receive one equity share of Kwality Wall’s for every one equity share they hold in HUL, as on the record date, which is yet to be announced. The move is intended to unlock more value by separating the fast-growing ice cream segment from HUL’s core FMCG business.
The international Unilever Group, which currently manages its Indian ice cream operations through HUL, is also going through a similar demerger process. Its ice cream business, to be known as The Magnum Ice Cream Company, will become a separate entity by mid-November.
Following the completion of the demerger, The Magnum Ice Cream Company will acquire 61.9 percent stake in Kwality Wall’s (India) Limited from the Unilever Group.
Kwality Wall’s owns and operates several popular ice cream brands in India, including Cornetto, Magnum, Feast and Creamy Delight.
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