HUL Demerger: Kwality Wall’s India Allots Shares, Ceases to Be Wholly-Owned Subsidiary

Mumbai, December 13, 2025: Hindustan Unilever Limited (HUL) has informed stock exchanges that Kwality Wall’s (India) Limited (KWIL) has completed a major step in the demerger of HUL’s ice cream business by allotting equity shares to eligible HUL shareholders.

The disclosure was made pursuant to the Scheme of Arrangement approved under Sections 230–232 of the Companies Act, 2013, and in compliance with SEBI (LODR) Regulations, 2015.

 

Share Allotment Details

KWIL’s Board, at its meeting held on December 12, 2025, approved the allotment of:

• 2,34,95,91,262 fully paid-up equity shares

• Face value: Re. 1 per share

• Allotted to: Eligible HUL shareholders as on the Record Date – December 5, 2025

• Share Entitlement Ratio: 1:1 (one KWIL share for every one HUL share held)

KWIL No Longer a Wholly-Owned Subsidiary

The Board of KWIL also approved the cancellation and reduction of its pre-scheme share capital of 5 crore equity shares, which were entirely held by HUL.
As a result, Kwality Wall’s (India) Limited ceased to be a wholly owned subsidiary of HUL with effect from December 12, 2025.

Listing Status

KWIL will initiate steps to obtain listing and trading approvals from BSE Limited and NSE. The newly allotted shares will remain frozen until listing and trading permission is granted by the stock exchanges.

Governance and Management Updates

KWIL’s Board has also:

• Constituted statutory committees including Audit, Nomination & Remuneration, Risk Management, and Stakeholders’ Relationship Committees

• Adopted a new set of Articles of Association aligned with SEBI Listing Regulations

• Designated key executives as Senior Managerial Personnel

• Appointed Mr. Prashant Premrajka (CFO) as the Nodal Officer for IEPF matters

Regulatory Disclosure

The disclosure has been made in line with SEBI Regulation 30, stock exchange observation letters dated May 14, 2025, and the SEBI Circular dated November 11, 2024.

This development marks a significant milestone in HUL’s corporate restructuring, paving the way for the independent listing of Kwality Wall’s (India) Limited as a standalone ice cream business.