Kwality Wall’s Next Chapter: HUL’s Decisive Ice Cream Demerger to Unlock Value

Hindustan Unilever Limited (HUL) has announced December 5, 2025, as the record date to determine shareholders eligible for receiving equity shares of Kwality Wall’s (India) Limited (KWIL), its demerged ice cream business. This marks a crucial milestone following regulatory approvals from stock exchanges and shareholders. The demerger scheme officially takes effect on December 1, 2025.

The demerged entity Kwality Wall’s will operate independently, carrying popular ice cream brands such as Cornetto, Magnum, Feast, and Creamy Delight. Post-demerger, Magnum Ice Cream Company will hold a 61.9% stake in KWIL, acquiring it from the Unilever Group.

This strategic move aims to unlock additional shareholder value by separating the high-growth ice cream vertical from HUL’s broader fast-moving consumer goods (FMCG) portfolio. HUL's board first approved the demerger in January 2025, with shareholder approval secured in August.

Key Highlights

December 5, 2025, is fixed as the record date for KWIL share entitlement.​

Demerger scheme becomes effective December 1, 2025, enabling KWIL's independent listing.​

1:1 share entitlement ratio—HUL shareholders receive one KWIL share for every HUL share held.​

Kwality Wall’s houses major ice cream brands including Cornetto, Magnum, and Feast.​

Magnum Ice Cream Company to hold 61.9% stake post-demerger, acquiring it from Unilever Group.​

The move aligns with Unilever PLC’s global restructuring to spin off its ice cream business.​

HUL’s Q2 FY26 reported consolidated net profit rose by 3.6%, with a focus on unlocking value via the demerger.​

Sources: The Economic Times, NDTV Profit, Moneycontrol, Hindustan Unilever official releases.