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HUL-Kwality Wall's demerger soon: What shareholders need to know
01 Dec 2025

Hindustan Unilever Limited (HUL) is preparing for the demerger of its ice-cream business, Kwality Wall's India (KWIL).

The company's shares will undergo a change after a special pre-open session on December 5.

This move comes after the National Company Law Tribunal (NCLT) approved the demerger scheme on October 30.

The ice cream business contributes around 3% to HUL's annual turnover, generating ₹1,800 crore in revenue.

Share entitlement ratio and record date for demerger
Demerger details

The share entitlement ratio for the demerger has been fixed at 1:1.

This means that every HUL shareholder will get one share of the ice cream business for each share they own as on December 5.

The allotment date has been set for December 29, with shareholders whose names are in the register of members as on December 5 being eligible to receive free shares of KWIL.

Kwality Wall's shares to debut on stock exchanges
Listing process

HUL has said that the allotment, credit, and listing of the demerged Kwality Wall's India shares will be done in due course.

As per SEBI regulations, shares of a demerged entity must be listed within 60 days from NCLT's approval of the demerger scheme.

The National Stock Exchange (NSE) has also announced that Kwality Wall's India will be temporarily included in the Nifty 50 index from December 5 as part of the index adjustments related to the demerger.

HUL's share performance and market capitalization
Market status

HUL shares have been on a four-day winning streak, gaining nearly 3% in the last five days and around 5% in six months. The stock is up over 7% so far in 2025.

The company's P/E ratio is around 54 with a market capitalization of over ₹5.8 lakh crore.