Hindustan Unilever demerger record date tomorrow. Last day to buy shares stock of combined entity

Hindustan Unilever (HUL) share price gained on Thursday ahead of the record date for the demerger of its ice cream business, Kwality Wall’s India Ltd (KWIL). Hindustan Unilever demerger was effective on December 1, 2025, and 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 record date is December 5, Friday. Hence, today, December 4, is the last trading day for HUL as a combined entity. Shareholders holding HUL shares as of the record date will be entitled to receive equity shares of the demerged entity. As per the T+1 settlement cycle, today is the last day to buy HUL shares to be eligible for receiving shares of the demerged entity.

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.

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 Share Price Adjustment

HUL share price will get adjusted for the demerger of Kwality Wall’s India, after a special pre-open session on the record date – December 5. Both the stock exchanges, BSE and NSE, will conduct a special pre-open session on Friday to facilitate price discovery. This process will determine the fair value of HUL shares net of the ice-cream business.

In the derivatives segment, all existing HUL derivatives contracts will expire at the end of the trading session on Friday, December 4. Once the price discovery is completed on the record date, exchanges will introduce new F&O contracts of HUL in line with the revised corporate structure.

Index Inclusion

Nifty 50 and Sensex will follow their standard process by adding the spun-off company, Kwality Wall’s India, as a dummy stock at zero price alongside Hindustan Unilever. As part of the index adjustment, the demerged entity will be temporarily added to 35 Nifty indices at a zero price, using a provisional ticker ‘DUMMYHDLVR’.

The price of this dummy stock will show the difference between HUL’s closing price on the previous day and the price discovered during the special pre-open session. If the discovered price is equal to or higher than the previous close, the dummy stock will stay at zero. It will remain at this level until Kwality Wall’s officially lists on the exchanges.

After this, the exchanges will monitor how the stock trades before removing it from the indices. On NSE, the dummy stock can be removed after the third trading day — only if it does not hit its upper or lower circuit for two consecutive sessions. If it does hit a circuit, removal will be delayed until the stock shows two stable days.

BSE follows a similar method, but it only checks whether the stock hits the lower circuit.

At 11:20 AM, HUL share price was trading 0.17% lower at ₹2,450.00 apiece on the BSE.