MAM
Exhibit’s 501 Startups – a Pitching Event culminates on a high note!
Mumbai: Exhibit Magazine, India’s leading title on technology, fashion and lifestyle hosted the 6th edition of its prestigious startup pitching summit. Rechristened Exhibit’s 501 Startups, the event was held on 24th July at JW Marriott, Juhu, Mumbai where up-and-coming entities battled it out in front of an eminent panel, comprising venture capitalists and investors. Powered by GoDaddy and held in association with Poker Saint, Exhibit ‘501 Startups’ celebrated the startup wave in India, and brought to the forefront distinct startups from the nooks and corners of the country. The day-long pitching event was also supported by IAN, NASSCOM, TiE, Inc42 and Business Standard.
The conclave saw participation of startups with an operating cycle of at least a year; from verticals across technology, sports, e-commerce, food, hospitality and travel and the likes. The esteemed jury appointed for the sixth edition of the awards included Niren Shah of Norwest Ventures, Nikhil Arora of GoDaddy, Ashish Sharma of Innoven Capital, Mohit Dak & Nilesh Balakrishnan of Orios Venture Partners, Sajad Fazalbhoy of Blume Ventures, Harish Talreja and Varun Varma of Lightbox Ventures, Vishesh Sharma of Accel Partners, Dr. Apporv Ranjan Sharma of Venture Catalysts and Ramesh Somani of Exhibit Magazine.
Exhibit 501 Startups witnessed over 5000 registrations and concluded with 25 innovative startups making the final cut to present their business models amidst the stellar jury. From the call for entries, 501 startups will also feature in an exclusive issue that will bring to light the unique ideas of these young companies. Wearable startup tech – Broadcast Wearables emerged a clear winner securing maximum scores and was closely followed by ProMeTheUs, a human resource startup focussed on talent identification and mapping, who ranked second amongst competing organisations. Startups were adjudged basis uniqueness of their product idea, presentation, and business model.
Commenting on the prestigious summit, Ramesh Somani, CEO and Editor-In-Chief, Exhibit Group said, "We are elated with the response received for the 6th edition of Exhibit 501 Startups. It’s always amazing to see the startups come in and pitch with exemplary grit, determination and passion! The Indian startup machinery has churned out some promising startups, who are waiting for their one chance of sunshine. Being a startup myself, it gives us immense satisfaction in helping startups inch closer to their goal and we’re glad, we at Exhibit provide that stepping stone. Kudos to all the winners and look forward to next year."
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.
