Description

NSE announces live bidding details for the takeover offer of Kwality Wall's (India) Limited by The Magnum Ice Cream Company HoldCo 1 Netherlands B.V. and PACs, with issue period from April 23 to May 7, 2026.

Summary

NSE has announced the live bidding details for a takeover offer of Kwality Wall’s (India) Limited (Symbol: KWIL, Series: TO, ISIN: INE2KCE01013). The acquirer, The Magnum Ice Cream Company HoldCo 1 Netherlands B.V., along with PACs Magnum ICC Finance B.V. and The Magnum Ice Cream Company N.V., will conduct the offer through NSE’s web-based bidding platform under the Tender Offer Scheme (NSE/CMTR/52776 dated June 29, 2022).

Key Points

  • Acquirer: The Magnum Ice Cream Company HoldCo 1 Netherlands B.V. along with PAC1 (Magnum ICC Finance B.V.) and PAC2 (The Magnum Ice Cream Company N.V.)
  • Issue size: Up to 61,08,93,729 equity shares
  • Offer price: Rs. 21.33/- per share (Fixed Price)
  • Face value: Re. 1/- per share; Lot size: 1 equity share
  • Offer type: Takeover; Issue type: Fixed price
  • Merchant Banker: Kotak Mahindra Capital Company Limited
  • Registrar: KFin Technologies Limited
  • Live URL for members: https://eipo.nseindia.com
  • Order modification (quantity) and cancellation are NOT permitted for takeover offers
  • All Capital Market segment trading members are eligible to participate

Regulatory Changes

No new regulatory changes introduced. The offer is governed by the existing Tender Offer Scheme Exchange circular NSE/CMTR/52776 dated June 29, 2022.

Compliance Requirements

  • Trading members already on the web-based IPO bidding platform may use existing credentials to access the Tender Offer Facility
  • Members without access must log in to the admin terminal using Admin ID format: Adminxxxxx (where xxxxx is the Member Code), and create branches and users before participating
  • Custodial confirmations must be completed within stipulated times; extended window (until 4:00 p.m.) applies on the issue closure day
  • Order modification and cancellation of quantity are prohibited once submitted

Important Dates

  • Issue Period: April 23, 2026 to May 7, 2026
  • Bidding Time: 9:15 a.m. to 3:30 p.m. (daily)
  • Custodial Confirmation Time: 9:15 a.m. to 3:30 p.m. (daily); extended to 4:00 p.m. on the issue closure day (May 7, 2026)

Impact Assessment

This is a significant market event involving one of India’s known FMCG/ice cream brands. The offer of up to 61.08 crore shares at Rs. 21.33 represents a substantial transaction value. Shareholders of Kwality Wall’s (India) Limited should evaluate the fixed-price offer against current market valuations. All eight investor categories — FIIs, Mutual Funds, Insurance Companies, Banks & FIs, Other QIBs, Bodies Corporate, Individuals, and Other Non-Institutional Investors — are eligible to participate. Trading members must ensure system readiness on the NSE web bidding platform prior to April 23, 2026.

Impact Justification

Large-scale takeover offer involving up to 61.08 crore equity shares at Rs. 21.33/- per share by a foreign acquirer group; directly affects shareholders of Kwality Wall's (India) Limited and trading members participating in the tender offer facility.