Hindustan Unilever (HUL) will commence trading today without its ice cream business. A special pre-open session for HUL shares will be conducted on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The price discovery process, scheduled for the record date of December 5, will lead to the introduction of new futures and options contracts for HUL, reflecting the updated corporate structure. This adjustment follows the company’s decision to divest its ice cream segment to Kwality Wall’s India Ltd (KWIL), effective December 1.
Shareholders of HUL as of the record date will be entitled to receive equity shares from the newly separated entity. Notably, today marks the final opportunity to purchase HUL shares for those investors wishing to qualify for shares of KWIL, as per the T+1 settlement cycle.
In accordance with standard index procedures, both the Nifty 50 and the Sensex will add Kwality Wall’s India as a non-traded placeholder at a zero price, alongside Hindustan Unilever. As part of this adjustment, the demerged company will be temporarily included in 35 Nifty indices under the provisional ticker symbol ‘DUMMYHDLVR.’
The value of this dummy stock will indicate the differential between HUL’s prior closing price and the price determined during the special pre-open session. Should the discovered price meet or exceed the previous close, this dummy stock will retain a value of zero until Kwality Wall’s officially debuts on the exchanges.
Published on December 5, 2025.
