Initially disclosed in January 2025, the demerger will result in the creation of an independent listed company
Hindustan Unilever is on course to separate its ice-cream division, Kwality Wall’s (India), with the aim of completing the process by the end of the current financial year (FY26). Initially disclosed in January 2025, the demerger will result in the creation of an independent listed company. Regulatory approvals from both the BSE and NSE were obtained in May.
HUL is actively working on carving out its well-known ice-cream portfolio under KWIL. As part of the demerger plan, each eligible shareholder will be entitled to receive one equity share in Kwality Wall’s for every one share held in HUL, with the record date to be announced in due course.
“No objection letter for the demerger scheme received from the stock exchanges. Demerger process on track and is expected to be completed by Q4FY26, subject to necessary approvals. NCLT convened shareholder meeting on 12 August 2025 to consider and approve the scheme,” the company said in its investor presentation.
The FMCG major is pursuing this restructuring to realise added value by separating the fast-growing ice-cream category from its broader consumer goods portfolio. Currently, HUL manages the ice cream business in India on behalf of the global Unilever Group.
Unilever, on its part, is also spinning off its global ice cream business. The Magnum Ice Cream Company, which is expected to become a standalone entity by mid-November. Following the completion of the process, The Magnum Ice Cream Company will hold a 61.9 per cent stake in Kwality Wall’s (India), transferring control from the Unilever Group.
Kwality Wall’s oversees a wide array of popular ice-cream brands in India, including Cornetto, Magnum, Feast, and Creamy Delight.
