HUL Demerger: BIG update for shareholders just ahead of record date

HUL Demerger: Hindustan Unilever Ltd (HUL) has announced major governance changes at Kwality Wall’s (India) Ltd (KWIL) as the ice cream and frozen desserts business prepares to operate as an independent company from 1 December 2025. The updates were shared through filings under SEBI Listing Regulations, linked to the Scheme of Arrangement between HUL and KWIL.

HUL is demerging its ice cream business, Kwality Wall's (India) Limited (KWIL), into a separate, listed entity. The demerger takes effect on December 1, 2025, with December 5, 2025, set as the record date for determining eligible shareholders.

Leadership changes

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KWIL has set up a new board and expanded its leadership structure following a meeting held on 21 November. The company said the changes will support a smooth transition as it moves into its next phase of growth.

Prashant Premrajka has been redesignated as Executive Director for a three-year term beginning 1 December 2025 and will also take charge as Chief Financial Officer. Chitrank Goel has been appointed Deputy Managing Director and Additional Director for the same tenure.

New independent directors inducted

The company has added four Non-Executive Independent Directors for five-year terms starting 1 December: Madhavan Hariharan, Ravindra Pisharody, Shukla Wassan and JV Raman.

Vidhi Sanghvi will assume the role of Company Secretary and Compliance Officer from 5 December, while S N Ananthasubramanian & Co. has been appointed as Secretarial Auditors for FY26.

The filing also noted the resignation of Additional Non-Executive Director Toloy Tanridagli, who stepped down at the close of business on 21 November due to professional commitments.

Sharper category focus post demerger

KWIL said the reconstituted board brings deep experience in consumer goods, finance, governance, strategy and M&A, strengthening its prospects as a standalone company. The demerger is expected to enable sharper category focus and unlock value in India’s growing ice cream market, led by brands such as Kwality Wall’s, Magnum and Cornetto.