NCLT approves HUL’s plan to demerge ice-cream business
Under the approved scheme, HUL will transfer Kwality Wall’s, Cornetto, Magnum, Feast and Creamy Delight to the new entity
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Published: Oct 31, 2025 4:57 PM | 1 min read
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The National Company Law Tribunal (NCLT), Mumbai Bench, has reportedly approved the demerger of Hindustan Unilever (HUL)’s ice-cream business into a wholly owned subsidiary, Kwality Wall's (India) Limited. The scheme will create a separate, independently listed ice cream company.
The HUL shared the news in an exchange filing dated October 30.
"We would like to inform you that the Scheme of Arrangement for demerger of the Ice Cream Business Undertaking, between the Company and Kwality Wall’s (India) Limited and their respective shareholders... has been sanctioned by the National Company Law Tribunal, Mumbai Bench (NCLT) by its order passed today i.e. 30th October, 2025," HUL said in filing.
Under the approved scheme, HUL will transfer Kwality Wall’s, Cornetto, Magnum, Feast and Creamy Delight to the new entity.
According to media reports, the demerger follows a direction from the parent organisation.
The demerger is expected to complete by end of financial year 2025-26.
The ice cream business reportedly currently contributes about 3% to HUL’s turnover
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