MAM
Eloelo app appoints Sagar Gaonkar as CTO
Mumbai: Eloelo, India’s homegrown live social media platform, is excited to announce the appointment of Sagar Gaonkar as its new chief technology officer (CTO). With over 16 years of video streaming and OTT technology expertise, Sagar will spearhead innovation, technological strategy, and compliance at Eloelo.
Sagar Gaonkar brings a wealth of experience from his previous roles at ShareChat and Disney+ Hotstar. At ShareChat, he excelled as an engineer lead, driving product conceptualisation and technical initiatives for Live streaming. His tenure at Hotstar & 100ms further solidified his reputation as a leader in the live streaming domain.
Commenting on the appointment, Eloelo founder & CEO Saurabh Pandey said, “We are thrilled to welcome Sagar as our chief technology officer for advancing our mission of being the digital companion for India’s youth via Interactive streaming & games. His deep understanding of the live streaming industry aligns perfectly with our focus on building a vertical social entertainment platform focused on live streaming across video & audio. Sagar’s expertise will be pivotal in scaling our platform and enhancing both user & creator experience.”
Speaking about joining Eloelo app, Sagar Gaonkar expressed his delight and added ”Joining Eloelo during a time of rapid growth in live streaming in India is incredibly exciting. I am deeply inspired by Saurabh’s mission to create a secure and interactive digital third place for India. My focus will be on expediting feature rollouts, enhancing platform stability, and ensuring a seamless and secure experience for our users & creators.”
Eloelo currently ranks in the top three on Google Play Store in the entertainment category and serves over 75 million users in India with content available in six Indian languages. The platform has raised over $37 million from global and national investors, including Courtside, Waterbridge Ventures, Griffin Gaming Partners, Lumikai Fund and Kalaari Capital.
Brands
Magnum Ice Cream Netherlands takes control of Kwality Wall’s India from Unilever
61.9 per cent stake transfer reshapes ownership as Unilever exits promoter role
MUMBAI: Kwality Wall’s (India) Limited has entered a new chapter, with The Magnum Ice Cream Company HoldCo 1 Netherlands B.V. acquiring a controlling 61.9 per cent stake from a clutch of Unilever PLC-led entities, marking a significant shift in ownership.
The transaction, completed on March 30, 2026, follows a share purchase agreement signed in June 2025. The incoming promoter picked up over 145 crore equity shares, effectively taking control of the company and being formally classified as its new promoter under regulatory norms.
As part of the deal, the outgoing promoter group, including Unilever Group Limited and its affiliated entities, has fully exited its shareholding in the company. They have now been reclassified from promoter to public shareholders, closing a long-standing association with the ice cream business in India.
The board of Kwality Wall’s (India) Limited took note of the ownership change and approved a series of leadership updates alongside it. Ritesh Tiwari stepped down as director, while Abhijit Bhattacharya was appointed as chairperson and additional non-executive director. Tahir Toloy Tanridagli also joined the board as an additional non-executive director.
The reshuffle signals a broader strategic reset as the Magnum-led entity looks to steer the brand’s next phase of growth in India. The transition has been carried out in line with regulatory requirements, including disclosures tied to the open offer and reclassification norms under market regulations.
With Unilever stepping back and Magnum stepping in, Kwality Wall’s India is effectively getting a fresh scoop of leadership and direction. The coming months will reveal how the new promoter plans to scale the brand in one of the world’s most competitive ice cream markets.
