HUL Demerger Highlights: HUL share price closed 3.51% lower at ₹2,339 on the BSE on Friday, recovering part of its sharp intraday decline after slipping 7% to a low of ₹2,289. The drop followed the stock’s adjustment for the demerger of its ice cream business, Kwality Wall’s India, after a special pre-open session. Shareholders on the record date will receive free shares of the newly created entity.
Hindustan Unilever demerger record date is today, 5 December 2025, Friday. From today, Hindustan Unilever Ltd (HUL) shares will trade ex-ice cream business, which is Kwality Wall’s (India). The stock exchanges, BSE and NSE, will conduct a special pre-open session today, on the HUL demerger record date, to facilitate price discovery.
This process will determine the fair value of HUL shares net of the ice-cream business. Following the special session, HUL share price will be adjusted to reflect the demerger of Kwality Wall’s (India).
HUL Demerger Details
HUL demerger was effective from December 1, 2025. As per the scheme, the FMCG major will transfer all its ice-cream brands — including Kwality Wall’s, Cornetto, Magnum, Feast, and Creamy Delight — to the newly formed entity.
The company has fixed Friday, December 5, 2025 as the record date for the purpose of ascertaining the eligibility of shareholders for the demerger of Kwality Wall’s (India).
Hindustan Unilever demerger share entitlement ratio is 1:1. This means eligible shareholders will receive one equity share of Kwality Wall’s (India) for every one share of Hindustan Unilever held on the record date.
HUL Demerger LIVE Updates: HUL’s demerger of its ice cream business, Kwality Wall’s India (KWIL), is now underway, with key dates, ratios and listing requirements officially outlined. Here are the most important updates investors need to know:
Demerger Ratio: The share entitlement ratio is 1:1.
Every HUL shareholder will receive one share of Kwality Wall’s India (KWIL) for each HUL share held on the record date.
Record Date: December 5.
Allotment date: December 29.
Shareholders whose names appear in HUL’s register as of the record date will receive free KWIL shares under the demerger.
Listing Timeline: HUL said the allotment, credit and listing of KWIL shares will occur in due course.
As per SEBI rules, the demerged entity must list within 60 days of NCLT approval.
KWIL to Join Nifty 50: NSE announced on November 28 that KWIL will be added to the Nifty 50 index from December 5.
A special pre-open session for HUL will be held the same day to facilitate price discovery.
KWIL will be temporarily added to 35 Nifty indices at zero price, using the dummy symbol DUMMYHDLVR.
HUL Demerger LIVE Updates: HUL share price ended 3.51% lower at ₹2,339 on BSE, recovering a bit after it fell 7% to its day's low of ₹2,289 in intraday deals.
The FMCG stock is currently 16% away from its 52-week high of ₹2,779.70, hit in September 2025. Meanwhile, it touched its 52-week low of ₹2,136, in March 2025.
The stock has lost 6% in last 1 year, 11% in last 3 months and over 4% in last 1 month.
HUL Demerger LIVE Updates: Hindustan Unilever (HUL) approved the demerger of its ice cream business in November 2024, separating a portfolio that includes iconic brands such as Kwality Wall’s, Cornetto and Magnum. The National Company Law Tribunal (NCLT) cleared the proposal on October 30, paving the way for the creation of a standalone entity.
The ice cream division currently contributes 3% of HUL’s annual turnover, generating about ₹1,800 crore in revenue. According to ICICI Securities, the demerged business could be valued between ₹9,500 crore and ₹11,900 crore, with the per-share value of the new entity estimated at ₹40–50.
HUL Demerger LIVE Updates: Goldman Sachs has reiterated its Buy rating on Hindustan Unilever (HUL) with a target price of ₹2,850 per share, stating that the company’s Q2 results were broadly in line with expectations. The brokerage noted that volume growth was temporarily affected by the GST transition but expects a gradual recovery in the second half of FY26. It added that under the leadership of new CEO Priya Nair, HUL is sharpening its focus on volume-led revenue growth, signalling a strategic shift aimed at strengthening long-term demand momentum.
HUL Demerger LIVE Updates: Morgan Stanley has reiterated its Equal-Weight rating on Hindustan Unilever (HUL) with a target price of ₹2,335 per share, noting that the second half of FY26 is likely to perform better than the first. The brokerage highlighted that the GST transition impacted Q2 volumes by about 2%, but trading conditions should normalise by early November. It added that HUL’s gross margin improved 135 basis points sequentially, though this was partially offset by higher trade support costs.
Morgan Stanley expects the trade pipeline to stabilise within the normal 4–6 weeks range and said demand trends remain steady in both rural and urban markets. It also noted that the winter and harvest seasons will be key indicators to watch. Additionally, the proposed ice-cream demerger could contribute 50–60 basis points to HUL’s margin.
HUL Demerger LIVE Updates: Hindustan Unilever (HUL) reported a mixed performance across key business segments in Q2FY26, reflecting subdued demand in several categories. The Home Care segment saw revenue decline 1.22% to ₹5,667 crore from ₹5,737 crore, while EBIT fell 3.4% to ₹1,050 crore. Beauty & Wellbeing revenue slipped 1.98% to ₹3,389 crore, and EBIT contracted 8% to ₹1,031 crore.
Personal Care revenue stood at ₹2,426 crore, marginally lower year-on-year, with EBIT easing to ₹487 crore. Meanwhile, Foods division revenue dipped 1.7% to ₹3,869 crore, and EBIT fell 8.8% to ₹629 crore. Overall, the results highlight category-specific pressure and the need for more growth-led momentum in HUL’s portfolio.
HUL Demerger LIVE Updates: HUL’s CEO and Managing Director, Priya Nair, outlined a bold roadmap for the company’s next phase of growth, emphasising sharper consumer segmentation and revitalisation of core brands to make them more modern, desirable and youthful. She said the company aims to future-proof its marketing and sales capabilities by strengthening online brand discovery and fulfilment, while channeling higher investments into high-growth categories. “We believe these key priorities, coupled with a supportive macroeconomic environment, will position us to accelerate volume-led growth in the mid-to-long term,” Nair said.
HUL Demerger LIVE Updates: Kwality Wall’s houses several well-known ice cream brands, including Cornetto, Magnum, Feast, Creamy Delight and others that enjoy strong consumer recognition across India. Despite its iconic portfolio, the ice cream division currently contributes only about 3% to Hindustan Unilever’s overall turnover. This relatively small share, combined with the business’s distinct operational and growth characteristics, is a key reason behind HUL’s decision to demerge the segment into a separate entity. The move is expected to allow the ice cream business to scale independently while enabling sharper strategic focus for both companies.
HUL Demerger LIVE Updates: Hindustan Unilever (HUL) has become the third Nifty 50 company to undertake a demerger in 2025, joining ITC and Tata Motors in a year marked by major corporate restructuring. ITC kicked off the trend with the separation of its hotels business into a standalone entity, aimed at unlocking value and offering sharper operational focus. Soon after, Tata Motors completed the demerger of its passenger and commercial vehicle businesses, creating two independently run divisions to streamline growth and capital allocation. With HUL now spinning off Kwality Wall’s India, 2025 is shaping up to be a significant year for large-cap demergers in India’s benchmark index.
HUL Demerger LIVE Updates: Hindustan Unilever’s demerger of its ice cream business, Kwality Wall’s India, triggered a sharp stock adjustment as HUL began trading ex-ice cream. The move gives shareholders direct ownership in the new entity, which will list separately in the coming weeks. A special pre-open session determined HUL’s revised price, while eligible investors will receive shares in a 1:1 ratio. The demerger aims to unlock value by allowing both businesses to pursue independent growth strategies.
HUL Demerger LIVE Updates: When a demerged entity like Kwality Wall’s India enters the Nifty 50 at a dummy symbol and zero price, it serves as a temporary placeholder to maintain index continuity. This zero-price entry reflects only the valuation adjustment from the parent company and not the stock’s actual market value. The constant price will remain briefly until the stock officially lists and real trading begins. Once price discovery happens, the index will update to reflect the true market value of the new company.
HUL Demerger LIVE Updates: Kwality Wall’s India will enter the Nifty 50 with a dummy symbol at zero price, representing the difference between the demerged company’s closing price on the ex-date and the value discovered during the special pre-open session. Investors should note that the stock will remain in the Nifty 50 at a constant price for a brief period until regular trading begins and actual price discovery takes place.
HUL Demerger LIVE Updates: Hindustan Unilever began Thursday’s session on a weak note, opening 1.5% lower at ₹2,424.00 and dropping further to an intraday low of ₹2,289, marking a sharp 7% decline as the stock adjusted for the Kwality Wall’s demerger. The sell-off eased later in the day, with the shares recovering part of the losses. HUL was last seen trading 3.2% lower at ₹2,345, reflecting improved sentiment after the initial volatility.
HUL Demerger LIVE Updates: Nuvama Institutional Equities believes HUL’s ice cream business, given its lower margins and smaller scale, will likely be valued at a lower multiple than the core franchise. It estimates that the ice cream segment contributes roughly ₹50–55 to HUL's current share price of around ₹2,400, with the company trading at about 9 times its enterprise value to sales (EV/sales). The brokerage expects Kwality Wall’s to list in February at a valuation of around 5 times EV/sales. According to Nuvama, the demerger will give HUL shareholders direct ownership in a pure-play ice cream company with annual revenue of around ₹2,000 crore, a strong 15–20% CAGR potential, and a portfolio of iconic brands including Magnum, Cornetto and Kwality Wall’s.
HUL Demerger LIVE Updates: The board of directors announced an interim dividend of ₹19 per share for the fiscal year ending 31 March 2026. The company stated that the record date for determining shareholder eligibility has been fixed for Friday, November 7, 2025, and the dividend will be distributed on Thursday, November 20, 2025.
An interim dividend is a payout that a company declares and distributes to its shareholders before the end of a financial year, usually based on its quarterly or half-yearly performance. Unlike a final dividend, which is recommended after the annual accounts are fully reviewed, an interim dividend reflects the company’s confidence in its ongoing profitability and cash flow during the year. It is approved by the board of directors and serves as a way to share profits with shareholders ahead of the final results. Interim dividends are typically influenced by short-term earnings trends, cash reserves and the company’s dividend policy, and they provide investors with early returns while signalling management’s positive outlook on business performance.
HUL Demerger LIVE Updates: Hindustan Unilever posted a 3.6% year-on-year rise in consolidated net profit (attributable to the owners of the company) to ₹2,685 crore, up from ₹2,591 crore in the same quarter last year. Revenue from operations increased 1.5% to ₹16,388 crore, compared with ₹16,145 crore in the corresponding quarter of the previous financial year. The company said in its exchange filing that Profit After Tax rose 4%, largely due to a one-time beneficial impact from the resolution of past tax matters between the UK and Indian tax authorities. It added that quarterly performance was also affected by temporary GST-related changes and an extended monsoon in parts of the country.
Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter stood at ₹3,729 crore (Q2FY24: ₹3,793 crore). The EBITDA margin of 23.2% declined by 90 basis points year-on-year, primarily due to higher investments in the business, the company said.
HUL Demerger LIVE Updates: HUL stated that the allotment, credit and listing of shares of the demerged Kwality Wall's India will be carried out in due course. As per SEBI regulations, the shares of the demerged entity must be listed within 60 days of the NCLT’s approval of the demerger scheme.
HUL Demerger LIVE Updates: Hindustan Unilever share price opened 1.5% lower at ₹2,424.00 and slipped further to its day’s low of ₹2,289, marking a 7% decline.
The stock adjusted today for the demerger of its ice cream division, Kwality Wall’s India, following a special pre-open session. Investors holding HUL shares as of the record date will receive free shares of the newly demerged entity.
HUL Demerger LIVE Updates: When a company demerges, the total value of your investment remains unchanged, but your cost of acquisition is apportioned between the two resulting entities based on a ratio that HUL will provide later.
For instance, if you purchased 100 HUL shares at ₹2,000 each, your total investment is ₹2,00,000.
If HUL later announces an 80:20 cost split between HUL and Kwality Wall’s, it means:
₹1,60,000 of your original cost will be assigned to HUL, and
₹40,000 will shift to Kwality Wall’s.
Your overall investment stays ₹2,00,000; only the distribution of cost across the two companies changes.
HUL Demerger LIVE Updates: Ahead of the demerger record date, HUL shares ended at ₹2,464.10 on December 4, up 0.66% for the session. The stock has gained 4.21% over the past six months, with investor sentiment improving as expectations build around the value creation potential of the proposed separation. The ice-cream business currently contributes about 3% of HUL’s annual revenue, generating roughly ₹1,800 crore each year.
HUL Demerger LIVE Updates: Ice cream remains a “high-growth business” with brands such as Kwality Wall’s, Cornetto and Magnum operating in a highly attractive consumer segment, and the proposed demerger will “unlock fair value for HUL shareholders” while giving them the option to stay invested in the category’s future expansion, said Rohit Jawa, CEO and Managing Director of HUL.
HUL noted that separating the ice-cream division will allow the company to sharpen its focus on its core portfolios—including personal care, home care, beauty and nutrition—while giving the ice-cream business the strategic independence and flexibility it needs to scale more aggressively as a standalone entity.
HUL Demerger LIVE Updates: Index providers are preparing temporary adjustments ahead of the Kwality Wall’s demerger. Both MSCI and FTSE will add Kwality Wall’s to their indices at the discovered price on the record date, removing it once regular trading begins.
Nifty and Sensex will follow their standard approach by inserting the spun-off entity as a dummy stock at zero price alongside HUL one day before the record date.
The dummy stock will then reflect the price difference between HUL’s T–1 closing value and the discovered price in the special pre-open session. If the discovered price is equal to or higher than the previous close, the dummy stock will remain at zero until Kwality Wall’s formally lists.
HUL Demerger LIVE Updates: The company has set December 29 as the share allotment date. The listing date of Kwality Wall’s (India) shares is yet to be announced. According to the SEBI rules, the statutory timeline for the listing and commencement of trading of shares of KWIL is within a period of 60 days from the receipt of NCLT approval.
HUL Demerger LIVE Updates: Hindustan Unilever demerger share entitlement ratio is 1:1. This means eligible shareholders will receive one equity share of Kwality Wall’s (India) for every one share of Hindustan Unilever held on the record date.
HUL Demerger LIVE Updates: The share price of the ex-ice cream entity will be determined based on the difference between the closing price of HUL shares on Thursday, December 4, and the opening price of the listed entity, as discovered during the special pre-open session held between 9:00 a.m. and 10:00 a.m.
HUL Demerger LIVE Updates: The stock exchanges, BSE and NSE, will conduct a special pre-open session today, on the HUL demerger record date, to facilitate price discovery. This process will determine the fair value of HUL shares net of the ice-cream business. Following the special session, HUL share price will be adjusted to reflect the demerger of Kwality Wall’s (India).
HUL Demerger LIVE Updates: HUL demerger was effective from December 1, 2025. As per the scheme, the FMCG major will transfer all its ice-cream brands — including Kwality Wall’s, Cornetto, Magnum, Feast, and Creamy Delight — to the newly formed entity.
HUL Demerger LIVE Updates: Hindustan Unilever demerger record date is today, 5 December 2025, Friday. From today, Hindustan Unilever Ltd (HUL) shares will trade ex-ice cream business, which is Kwality Wall’s (India).
