Novartis India Ltd — Important, 01-01-1970: Company Update

Acquirers WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners have announced a mandatory open offer for Novartis India Limited. They aim to acquire up to 0.64 crore equity shares, representing 26% of the voting capital, at INR 860.64 per share, totaling up to INR 552.50 crore in cash. This follows their agreement to acquire 1.75 crore shares (70.68%) from Novartis AG for INR 1445.89 crore, giving the Acquirers control. The company's name is set to change, and its board will be reconstituted. This offers public shareholders an exit opportunity amid significant ownership shifts.