MAM
Nikhil Rangnekar is Lodestar UM’s new media consultant
MUMBAI: IPG Mediabrands’s Lodestar UM has appointed Nikhil Rangnekar as its media consultant. Based out of Lodestar UM Mumbai, Rangnekar will be reporting to the CEO Nandini Dias.
Rangnekar has moved from Spatial Access where he was the CEO of the Media Audit and Advisory business.
“Nikhil is an industry veteran and we are delighted to have him on board. He has a varied background having worked in various capacities driving strategy, business and audits. He brings in a lot of experience and strategic thinking which we intend to leverage,” said Dias.
Armed with over 19 years of experience in the advertising and the media industry, Rangnekar started his career with Starcom in 1997 where in 14 years he climbed the ranks from a management trainee to executive director. In 2011, he quit Starcom to join Spatial Access. He is also the chairman of the marketing committee of IRS at MRUC.
Talking about his new role, Rangnekar said, “I am extremely happy to join Lodestar UM in the role of a strategy consultant. For me, it’s a prestigious assignment working with one of the largest groups in the world and in India.”
He further added, “I will be working with the individual brand teams in helping them take our strategy product to the next level. I will also be working closely with the Labcentre team on the various proprietary researches and tools that IPG Mediabrands has and aim to evolve them in line with the changes happening in the media environment in India. If my last role was more about driving efficiency, the new role is more about driving effectiveness. Lastly, I am proud to have got this opportunity to work with industry stalwarts like Shashi and Nandini.”
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.
