Kwality Wall's India drops 24% in trading debut

Shares of Kwality Wall's (India) KWAI.NS drop 24% to 30.55 rupees in trading debut; firm valued at 71.78 bln rupees ($791.3 mln) as of 12:12 IST

Ice cream maker's shares list on NSE at 29.80 rupees vs discovered price of 40.20 rupees

KWAI shares listed post demerger from Hindustan Unilever HLL.NS, Indian unit of Unilever ULVR.L

Demerger part of Unilever's plan to separate its global ice cream business into a new co, The Magnum Ice Cream Company MICCT.L

The Magnum Ice Cream launches open offer to public shareholders of KWAI for acquisition of up to 26% stake at 21.33 rupees per share, triggered after acquisition of 61.9% stake from Unilever Group entities

KWAI's overall trading vols at 39.6 mln shares so far

($1 = 90.7130 Indian rupees)