Brands
Hindustan Unilever demerges Kwality Wall’s, 2.3 Billion shares to list on stock market
The ice cream division starts trading on BSE and NSE after demerger approval
MUMBAI: Hindustan Unilever Limited (Hul) is bringing Kwality Wall’s (India) Limited (Kwil) to the stock market. The ice cream maker will start trading its shares on the BSE and NSE, opening a new investment opportunity.
The scheme of arrangement between Hul and Kwil has received regulatory approvals. On 12 February 2026, Kwil received confirmation from both exchanges that its equity base is ready for public trading.
Kwality Wall’s is listing a total of 2,34,95,91,262 equity shares, each with a face value of Re. 1. The shares will trade under the symbol ‘KWIL’ on the NSE. Each share is individually numbered from 1 to 2,34,95,91,262.
Trading will begin on 16 February 2026. Investors can buy shares in market lots of one, allowing even small investors to participate.
The demerger marks a significant structural shift for the brand. Following the spin-off process from the Unilever Group, The Magnum Ice Cream Company will hold a 61.9 per cent controlling stake in Kwality Wall’s. This entity now serves as the dedicated home for some of India’s most well-known frozen treat brands, including Cornetto, Magnum, Feast, and Creamy Delight. The separation allows the ice cream business to operate with greater independence and a focused capital structure.
The road to this listing began in January 2025 when the proposal was first announced, subsequently receiving initial stock exchange observations in May 2025. As part of the arrangement, investors who held Hul shares as of the record date of 5 December will receive a 1:1 share allotment, meaning one share of Kwality Wall’s for every one share of Hul held. This allotment ensures that Hul’s existing shareholder base retains a direct interest in the newly independent entity.
Trading starts on Monday, marking the official debut of KWIL as a publicly listed company.
Brands
Maharashtra panel orders Lodha to refund Rs 5 crore to homebuyers
Consumer court flags unfair practices in long-running property dispute case
MUMBAI: In a sharp rebuke to one of India’s biggest real estate players, the Maharashtra State Consumer Disputes Redressal Commission has directed Macrotech Developers to refund nearly Rs 5 crore to a senior citizen couple, Uttam and Anindita Chatterjee. The ruling, delivered on March 13, 2026, calls out the developer for “deficiency in service” and “unfair trade practices”, bringing closure to a dispute that has stretched over a decade.
The case traces back to 2015, when the couple booked a 3-BHK flat at World Towers in Lower Parel for Rs 12.22 crore, with possession promised within a year. What followed was a series of changes that complicated matters. After deciding to exit the project, they were persuaded to shift to a 4-BHK in another development priced at Rs 8 crore, with delivery scheduled for 2018. However, within months, the price was allegedly increased to Rs 10 crore. After demonetisation reshaped the market, similar flats were reportedly being offered at lower prices, but the couple were not given the benefit.
Despite paying over Rs 2.83 crore, the couple neither received possession nor clarity. Instead, in 2018, the developer unilaterally cancelled the booking, retained part of the amount as earnest money, and argued that the buyers were investors rather than consumers. The commission rejected this claim, observing that casual references to “investment” do not take away consumer rights when the purchase intent is residential.
The bench also held that the developer could not penalise buyers for payment delays while failing to meet its own delivery commitments. It noted the lack of formal documentation for revised terms and termed the prolonged retention of funds without delivering a home as exploitative.
As part of its order, the commission directed the developer to refund Rs 2.83 crore paid by the couple, along with interest at 10 per cent per annum, amounting to around Rs 2.12 crore. In addition, Rs 1 lakh has been awarded for mental agony and Rs 50,000 towards litigation costs, taking the total payout to over Rs 5 crore. The developer has been asked to comply within two months.
For now, the ruling serves as a reminder that in real estate, shifting terms and delayed promises can carry a significant cost.
