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FMCG company Hindustan Unilever Limited (HUL) is planning to list its demerged ice cream business ‘Quality Walls’ on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The company approved this proposal in the board meeting today i.e. on 22 January.
The company said in a stock exchange filing that HUL shareholders will get shares of Kwality Walls in the new 1:1 ratio. Post the demerger, Kwality Walls (India) Limited will operate as an independent and publicly listed company. The company’s board approved the demerger of the ice cream business in November 2024 following the recommendation of an independent committee. This committee was formed by HUL in September 2024.
Quality Walls has ice cream brands like Walls, Cornetto and Magnum. After the demerger and listing of Kwality Walls, the entire shareholding of the company will be with the shareholders of HUL. Hindustan Unilever issued a statement saying – This world’s largest ice cream business will remain ahead in the market with its portfolio, brand and innovation. Kwality Walls owns ice cream brands like Walls, Cornetto and Magnum.
The turnover of HUL’s ice cream business in the last financial year was ₹1595 crore. Hindustan Unilever said in a statement that the turnover of the ice cream business in the financial year ending March 31, 2024 was Rs 1595 crore, which is 2.7% of the company’s total standalone business.
HUL can buy Minimalist Hindustan Unilever may soon buy Jaipur based skin care startup Minimalist. Recently it was said in media reports that this deal will be for Rs 3,000 crore. Peak XV Partners is the promoter of Minimalist.
After this deal, the valuation of Minimalist will increase from Rs 630 crore ($75 million) to Rs 3,000 crore ($350 million) in about three years. Its valuation will increase due to revenue and stable profit profile. Read the full news…
Hindustan Unilever shares gave negative return of 1.50% in one year Today Hindustan Unilever shares closed at Rs 2,340 with a decline of 0.021%. This stock has given a negative return of 1.50% in the last one year. At the same time, so far this year, HUL shares have gained only 0.77%.
