KWIL has additionally introduced adjustments on the prime stage
Magnum Ice Cream Netherlands has accomplished the acquisition of a 61.9 per cent majority stake in Kwality Wall’s (India) Ltd (KWIL), ensuing in a change in the promoter classification.
“On 30th March, 2026, the Incoming Promoter acquired the Sale Shares from the Outgoing Promoters in accordance with the SPA and other applicable laws,” KWIL stated in a regulatory submitting.
Pursuant to this transaction, the Incoming Promoter has acquired management over the corporate and is classed as a “promoter” of the corporate in accordance with the Listing Regulations, it added.
Meanwhile, the outgoing promoters have been reclassified from the “promoter” class to the general public class.
This acquisition is finished as per the Share Purchase Agreement (SPA) executed on June 25, 2025, which incorporates The Magnum Ice Cream Company Netherlands BV and Unilever PLC, amongst others.
The “incoming Promoter (Magnum) agreed to acquire an aggregate of 145.44 crore equity shares of KWIL” representing 61.9 per cent of the fairness share capital of the corporate from the Outgoing Promoters Unilever.
KWIL has additionally introduced adjustments on the prime stage. It has authorized the appointment of Abhijit Bhattacharya as an Additional (Non-Executive and Non- Independent) Director of the corporate and Chairman of the board. While Ritesh Tiwari resigned as Additional (Non-Executive and Non-Independent) Director of the corporate.
(Only the headline and movie of this report could have been reworked by the Business Standard employees; the remainder of the content material is auto-generated from a syndicated feed.)
First Published: Mar 31 2026 | 12:00 PM IST