Novartis India Ltd — Important, 20-02-2026: Company Update

Novartis India received a public announcement regarding an open offer by WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners (Acquirers) to acquire up to 64,19,608 equity shares, representing 26% of the voting capital. The offer is priced at INR 860.64 per share, totaling up to 552.49 Cr. This open offer follows the Acquirers' agreement to purchase 70.68% of the company from Novartis AG for 1,445.89 Cr. Post-transaction, the Acquirers will control the company and become its promoters, with Novartis AG ceasing to be a promoter. The company's name is proposed to change, and its board will be reconstituted. The Acquirers have no plans to delist the company and will ensure compliance with minimum public shareholding requirements.