The Magnum Ice Cream Company has completed the acquisition of 61.9% equity shares in Kwality Wall’s (India) Limited under a Share Purchase Agreement signed with Unilever on June 25, 2025.
Kwality Wall’s India has continued to remain listed on the BSE and NSE and has operated as a majority-owned subsidiary of TMICC Group following the completion of the transaction.
A mandatory tender offer, in line with Indian regulations, has been underway and has been expected to conclude within the next 4–6 months. If TMICC’s shareholding exceeds 75% following the tender offer, it will be required to dilute its stake to comply with minimum public shareholding norms within one year.
Abhijit Bhattacharya, CFO of The Magnum Ice Cream Company: “This transaction strengthens TMICC’s presence in one of the world’s fastest-growing, under-penetrated ice cream markets. It combines TMICC’s global brand strength, and innovation capabilities, with KWIL’s strong local heritage, manufacturing footprint, and extensive distribution network across India. With TMICC’s global expertise and the strong local management team in India, we are confident of accelerating category growth and building a future-ready business that continues to create value for consumers and shareholders.”
