Kwality Wall’s said that an open offer has been made by the Magnum Ice Cream Company to acquire 26% stake in the company. The offer price has been fixed at Rs 21.33 per share. At full acceptance, the total consideration would work out to around Rs 1303.03 crore.
The Ice cream company said in its regulatory filing that the Magnum Ice Cream Company HoldCo 1 Netherlands B.V. will purchase up to 61.08 crore equity shares, representing 26% of the voting share capital of Kwality Wall’s (India).
Magnum Ice Cream to take control of Kwality Wall’s India after Unilever exit
This development follows after the demerger of Kwality Wall’s (India) from Hindustan Unilever effective on December 1, 2025.
The open offer follows a share purchase agreement under which the Magnum Ice Cream Company will buy a 61.90% stake in Kwality Wall’s India from Unilever group entities. As part of the transaction, control of the company will shift to the Magnum Ice Cream group.
Once the deal is completed, the Magnum Ice Cream Company will be classified as the promoter of Kwality Wall’s India. The existing promoter entities of the Unilever group will cease to be promoters and will be reclassified as public shareholders.
Kwality Wall’s India shares begin trading on February 16
Under the scheme, HUL shareholders received one share of Kwality Wall’s India for every share they held in HUL.
Following the demerger Kwality Wall’s (India) received listing approval from stock exchanges on February 12. Its shares started trading today, on February 16.
Magnum Ice Cream rules out delisting after open offer
If the open offer is fully accepted, the Magnum Ice Cream Company’s total shareholding in Kwality Wall’s India could go up to 87.90%.
The Magnum Ice Cream Company has clarified that it does not intend to delist Kwality Wall’s India following the open offer. The offer is also not conditional on any minimum level of acceptance.
Kwality Wall’s share price
The share price of Kwality Wall’s gained nearly 4% in intraday trade on its debut day on Monday.