Kwality Wall’s lists on BSE, NSE after HUL demerger completion.
Shareholders receive one KWIL share for every HUL share held.
Move follows Unilever’s global ice-cream business separation strategy.
Hindustan Unilever announced on February 13 that Kwality Wall's will begin trading on BSE and NSE from February 16.
According to reports, HUL has received the Listing and Trading Approval from BSE Limited and National Stock Exchange of India Ltd (‘NSE’) on 12th February, 2026 for the listing and trading of 2,34,95,91,262 equity shares of its demerged ice-cream business. The ice cream vertical hive-off went into effect on December 1 of last year and the record date for identifying eligible shareholders was set for December 5.
3 February 2026
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HUL had approved the demerger of the ice cream business, which operates popular brands including 'Kwality Wall's', 'Cornetto' and 'Magnum' in November 2024. National Company Law Tribunal (NCLT) approved the demerger scheme on October 30, 2025. This demerger follows the decision of its global parent entity, Unilever's global separation from the ice-cream business.
The ice cream business forms 3% of HUL's total yearly turnover, contributing ₹1,800 crore to the total revenue. The share entitlement ratio has been set at 1:1. This means that every shareholder of HUL will receive one share of the ice cream business for every share of the FMCG major they own, as on the record date, reported Moneycontrol.
The allotment date has been set as December 29. While the record date for determining which shareholders are eligible to receive the free shares has been set as December 5. This implies that as part of the demerger, HUL shareholders whose names are listed in the register of members as of the record date will be eligible to receive free shares of KWIL. On February 13, HUL shares closed over 4% lower at Rs 2,305 apiece a day after the company announced its Q3 results.
(This is a developing story.)
