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

ChrysCapital-backed Acquirers have launched a mandatory open offer to acquire up to 64.19 lakh equity shares, representing 26% of Novartis India Limited, from public shareholders. The offer price is INR 860.64 per share, totaling approximately INR 552.49 Cr for this portion. This follows the Acquirers' agreement to purchase a 70.68% stake from Novartis AG, which will make them the new promoters and give them control. The new promoters intend to support the management for sustained growth, continue existing business activities with available brands, and may consider shareholder returns through options like buybacks or dividends. A company name change is also planned.