HUL Gets Regulatory Nod For Kwality Wall’s Demerger

Hindustan Unilever Ltd. on Wednesday said it has received regulatory clearance for the demerger of its ice cream business, which will be spun off into a separate listed entity, Kwality Wall's (India) Ltd.

The company said it has secured a "no adverse observations" letter from BSE Ltd. and a "no objection" letter from the National Stock Exchange.

As announced earlier in January, shareholders of HUL will receive one share of Kwality Wall’s (India) Ltd. for every share held in HUL.