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Informist, Wednesday, Jan. 22, 2025

--HUL: Shareholders to get 1 share of arm Kwality Wall's for 1 held 
 

MUMBAI – The board of Hindustan Unilever Ltd. on Wednesday approved the listing of its ice cream business on the National Stock Exchange and Bombay Stock Exchange Ltd. HUL shareholders will get one share of the demerged ice cream company Kwality Wall's (India) Ltd. for every one share in the company post-listing, the company said in an exchange filing. 

 

Upon demerger and listing of Kwality Wall's, the entire shareholding of Kwality Wall's will be held directly by shareholders of HUL, the company said. There will be no change in the shareholding pattern of Kwality Wall's after the scheme of arrangement comes into effect. 

 

The demerged company will be listed on the exchanges post requisite approvals from the respective statutory and regulatory authorities, HUL said. 

 

"The ice cream business undertaking operates in an attractive high-growth category and has built iconic brands such as 'Kwality Wall's', 'Cornetto' and 'Magnum' and the demerger would create a leading listed ice cream company in India, which will have a focused management with greater flexibility to deploy strategies suited to its distinctive operating model and market dynamics, to realise its full potential," HUL said.

 

HUL reported a net profit of INR 30.01 billion for the December quarter on revenue of INR 154.08 billion. On Wednesday, shares of HUL closed at INR 2,342.95 on the National Stock Exchange, up 0.1%. The results for the December quarter were announced post-market hours.  End

 

Reported by Anand JC

Edited by Saji George Titus

 

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