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

Novartis India has released a post-offer advertisement concerning an open offer by WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners. This mandatory offer sought to acquire up to 0.64 Cr equity shares, representing 26% of Novartis India, from public shareholders at INR 860.64 per share. The acquirers had previously bought 1.74 Cr shares (70.68%) from Novartis AG, gaining control. In the open offer, only 40 shares were actually tendered and accepted, indicating minimal participation from public shareholders. Consequently, the actual public shareholding changed negligibly, with acquirers retaining their substantial majority stake.