Kwality Wall's India allots shares, ceases HUL subsidiary status

Kwality Wall's (India) Limited (KWIL) announced on December 13, 2025, the allotment of 2,34,95,91,262 fully paid-up equity shares of face value Re. 1/- each to HUL shareholders as of the December 5, 2025, record date. This allotment adheres to a 1:1 share entitlement ratio, where one KWIL share is issued for every one HUL share of face value Re. 1/-. The move follows the approval of the scheme of arrangement for the demerger of the ice cream business undertaking between HUL and KWIL.

Concurrently, KWIL's board also approved the cancellation and reduction of its entire pre-scheme paid-up share capital, which consisted of 5,00,00,000 fully paid-up equity shares of Re. 1/- each, previously held entirely by HUL. As a result, KWIL officially ceased to be a wholly-owned subsidiary of HUL effective December 12, 2025.

KWIL will now proceed with necessary steps to secure listing and trading permissions for its newly allotted equity shares on the BSE Limited and National Stock Exchange of India Limited. These shares will remain frozen until listing and trading approval is granted.