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

Novartis India is subject to an open offer by WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners to acquire up to 6.42 Crore equity shares, representing 26% of the voting capital, at INR 860.64 per share. The Independent Directors' Committee, evaluating the offer, considers the price fair and reasonable under regulatory frameworks. However, it highlighted that the market price was INR 1351.20 per share, higher than the offer. The acquirers will gain control and become promoters, with no delisting plans, and intend to leverage their pharmaceutical expertise for growth.