Kwality Walls (India) Ltd

- Open offer to acquire 26% stake in Kwality Walls via 61 crore equity shares - Offer price set at ₹21.33 per share; total consideration ₹1303 crores - Acquisition triggers change in promoter control from Unilever group to Magnum Ice Cream - The offer follows the demerger of ice cream business from Hindustan Unilever Limited

📢 Overview of the Open Offer

• Magnum Ice Cream group offers to acquire 61,08,93,729 Kwality Walls shares (26% voting capital)
• Offer price: ₹21.33/share, totaling ~₹1303 crores if fully accepted

📈 Background Transaction

• Hindustan Unilever Limited (HUL) demerged its ice cream business into Kwality Walls effective Dec 1, 2025
• Shareholders of HUL received Kwality Walls shares on 1:1 basis
• Unilever group held 61.9% shares in Kwality Walls post-demerger
• Magnum Ice Cream agreed to buy these shares for €278.55 million (~₹2997.83 crores)

⚖️ Regulatory Compliance and Effects

• Acquisition beyond 25% triggers open offer per SEBI regulations
• Magnum will become promoter; Unilever will be reclassified as public shareholders
• Offer aims to purchase shares from public shareholders as well

🧊 Intellectual Property & Brand

• Ice cream IP including Kwality Walls brand transferred globally to Magnum
• Licensed back to Kwality Walls on transitional terms

📅 Timeline & Next Steps

• Kwality Walls got stock exchange listing approval on Feb 12, 2026; trading from Feb 16, 2026
• Detailed public statement to be published by Feb 24, 2026
• Offer is unconditional on minimum acceptance and paid in cash

🎯 Key Points for Investors

• Control shifting from Unilever to Magnum Ice Cream group
• Opportunity for public shareholders to sell shares via open offer
• Ensures regulatory compliance and transparency

📊 Quantitative Data

• Shares in open offer: 61.08 crore (26% voting capital)
• Offer price per share: ₹21.33
• Total offer consideration: ₹1303 crore
• Unilever sells 61.9% shares (145.44 crore shares) for €278.55 million (~₹2997.83 crore)