The Magnum Ice Cream Company N.V. (ENXTAM:MICC) proposed to acquire 26% stake in Kwality Walls (India) Limited (NSEI:KWIL) for INR 13 billion on February 16, 2026. A cash consideration valued at INR 21.33 per share will be paid by The Magnum Ice Cream Company N.V. In related transaction, The Magnum Ice Cream Company has entered into a share purchase agreement to acquire a 61.9% stake in Kwality Walls (India) Limited from Unilever Group for INR 29.978 billion on June 25, 2025. The Magnum Ice Cream Company have no intention to delist the Kwality Walls (India) pursuant to this Open Offer.

This Open Offer is not conditional upon any minimum level of acceptance. The expected completion of transaction is on April 28, 2026.

Ganesh Rane of Kotak Mahindra Capital Company Limited acted as financial advisor for The Magnum Ice Cream Company N.V. M. Murali Krishna of KFin Technologies Limited acted as registrar to the offer. Abhishek Dadoo and Gaurav Malhotra of Khaitan & Co. acted as legal advisor for The Magnum Ice Cream Company N.V.