Novartis India Ltd — Important, 29-07-2026: Company Update

Novartis India's board announced the completion of the sale of 17,450,680 equity shares by Novartis AG to WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners. This pivotal transaction has resulted in Novartis AG ceasing control and being reclassified from "promoter" to "public" category, with WaveRise and Fund X now holding control. Concurrently, the company appointed three new non-executive and three new independent directors, following the resignations of six previous directors, including the Chairperson and Whole-time Directors. This signifies a major leadership and ownership transition.