Hindustan Unilever's ice cream business will be demerged into a separate entity, which will be listed independently.
The board has given in-principle approval for this decision, which is subject to the approval of the board and shareholders.
A detailed scheme will be presented early next year. The demerger aims to maximize value for shareholders by allowing them to receive shares in the new ice cream entity based on their current holdings in HUL.
The company believes that this separation will unlock fair value for shareholders and provide them with the opportunity to invest in the growth potential of the ice cream business.