Kwality Wall's IPO to hit markets on February 16
Kwality Wall's (India) Limited, the ice cream arm spun off from Hindustan Unilever (HUL), will hit the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on February 16, 2026.
HUL shareholders get a one-to-one share entitlement, with December 5 as the record date.
Over 234 crore shares of Re.1 each will be allotted
Over 234 crore shares of Re.1 each will be allotted on December 12. After this, Kwality Wall's will no longer be fully owned by HUL.
Shares stay frozen until trading is officially allowed.
India's 1st listed pure-play ice cream company
Kwality Wall's runs popular ice cream brands like Magnum, Cornetto, Feast, and Creamy Delight in India.
After the spin-off, Magnum Ice Cream Company holds about 62% of the company—which brokers say may make Kwality Wall's India's first listed pure-play ice cream company.
Analysts expect listing at ₹50-55 per share
Analysts expect listing at ₹50-55 per share—lower than HUL's valuation multiples but with strong growth potential.
The recent GST cut on ice creams from 18% to just 5% should give sales a sweet boost in the coming years.