Firm Matters

Khaitan & Co advised Kwality Walls (India) Limited on the demerger of the ice cream business of Hindustan Unilever Limited into Kwality Walls (India) Limited and, subsequently, on the preparation and filing of the Information Memorandum in connection with the proposed listing of Kwality Walls (India) Limited on the Indian stock exchanges, enabling direct market participation in the high-growth ice cream and frozen desserts category. The transaction involves the transfer of all assets, liabilities, operations, intellectual property rights, and employees associated with HUL’s ice cream division into KWIL as a going concern. The Firm also advised on various arrangements, including on real estate, IP, technology, data privacy, employees, ESOPs, etc between HUL and Kwality Walls (India) Limited. 

The Firm advised KWIL on all post-demerger corporate actions, including providing end-to-end assistance in negotiation and drafting of key agreements such as transitional services agreement, IP licensing agreements, contract manufacturing agreements etc. The firm also advised on the preparation, vetting, and filing of the Information Memorandum for the proposed listing of KWIL on the Indian stock exchanges, ensuring compliance with applicable SEBI and stock exchange requirements.