Kotak Mahindra Capital Company Ltd has submitted to the Exchange a copy of Detailed public statement in terms of Regulation 3(1) and 4 Read with Regulations 13(4), 14(3), 15(2) and other applicable Regulations, of the securities and Exchange Board of India (SAST) Regulations, 2011 as amended, to the public shareholders of the company.
KWIL · price
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The Magnum Ice Cream Company HoldCo 1 Netherlands B.V., together with its PACs (Magnum ICC Finance B.V. and The Magnum Ice Cream Company N.V.), has launched a mandatory open offer to buy up to 61.09 crore equity shares (26% of voting capital) of Kwality Wall's (India) Limited from public shareholders at INR 21.33 per share, aggregating up to INR 1,303 crore. This follows a Share Purchase Agreement (June 25, 2025) under which the Acquirer is buying a 61.90% controlling stake from seven Unilever group entities for EUR 278.55 million (~INR 2,998 crore). Kwality Wall's was itself created by demerging HUL's ice cream business on a 1:1 share basis (effective December 1, 2025) and began trading on BSE/NSE only on February 16, 2026. Post-transaction, Unilever group sellers will lose promoter status and move to the public category, while Magnum Ice Cream Company (the Unilever-spinoff now listed in Amsterdam, London and New York as MICC, owner of Magnum, Wall's and Ben & Jerry's) will become the new promoter.
Public shareholders of Kwality Wall's can tender their shares at INR 21.33 in cash during the offer period. The deal signals a complete change of control in India's listed ice cream business, shifting ownership from the Unilever/HUL group to the newly independent Magnum Ice Cream Company, which may drive strategic and operational restructuring going forward.