HUL to list demerged Kwality Wall's biz on BSE, NSE

As per the demerger terms, every HUL shareholder would get one KWIL share against each HUL share owned

by e4m Staff
Published: Jan 22, 2025 5:11 PM | 1 min read

The Board of FMCG major Hindustan Unilever Ltd. (HUL) on Wednesday, January 22, approved the demerger of its ice cream business, Kwality Wall's. The company informed its investors that the resulting company (KWIL) post demerger will be listed on the BSE and the NSE.

As per the demerger terms, every HUL shareholder would get one KWIL share against each HUL share owned.

"KWIL will be a leading listed ice cream company in India, with an experienced management equipped with greater focus and flexibility to deploy strategies suited to its distinctive business model and market dynamics, thus realising its full potential," HUL said.

“For the purpose of the proposed demerger, the Group incorporated a Wholly. Owned Subsidiary in the name of Kwality Wall's (India) Limited ('KWIL'] on 10th January 2025. The Board of Directors at their meeting held on 22nd January 2025 approved a scheme of arrangement, between HUL and KWIL and their respective shareholders to demerge HUL's Ice cream business into KWIL. The scheme is subject to necessary statutory and regulatory approvals, including from the Hon'ble National Company Law Tribunal under Sections 230 and 232 of the Companies Act, 2013. This has no impact on the results for the period ended 31st December 2024,” the company stated.