Swiss drugmaker Novartis AG has entered into an settlement to promote its total 70.68 p.c in Novartis India to WaveRise Investments Restricted, ChrysCapital Fund X and Two Infinity Companions, for a consideration of about ₹1,446 crore, the corporate mentioned, two years after the father or mother firm first indicated that the India subsidiary was beneath evaluation.
The corporate has agreed to promote 1,74,50,680 (One Crore Seventy 4 Lakhs Fifty Thousand Six Hundred and Eighty) totally paid-up fairness shares in Novartis India, representing 70.68 per cent of the fairness share capital of the corporate. It acknowledged that it proposed to enter right into a “Deed” involving sure obligations of the corporate in reference to the transaction. Novartis India’s inventory worth was up 20 per cent on the announcement, at ₹996.50 per piece on BSE, Friday (9.49 am).
The corporate has agreed to alter its identify to take away all references to the vendor group inside 120 days from the completion of the transaction, Novartis instructed the inventory exchanges. The Swiss father or mother has a wholly-owned subsidiary in India.
The buying corporations additionally introduced an open provide to select up the remaining shares in the Indian subsidiary.
WaveRise Investments would purchase 1,39,38,382 (one crore thirty 9 lakh thirty eight thousand 300 and eighty two) fairness shares of the corporate, representing 56.45 per cent, at a worth of US $ equal of ₹860.64, per fairness share.
The second acquirer would purchase 25,47,189 (twenty 5 lakh forty seven thousand 100 and eighty 9) fairness shares of the corporate representing 10.32 per cent of the fairness share capital of the corporate at a worth of ₹701.25 per fairness share.
And the third acquirer would purchase 9,65,109 (9 lakh sixty 5 thousand 100 and 9) fairness shares of the corporate, representing 3.91 per cent of the fairness share capital of the goal firm at a worth of ₹701.25 per fairness share, the announcement mentioned.
Revealed on February 20, 2026
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