Open Offer4 Jun 2026, 07:51 pm
Novartis India: Open Offer Letter Received from Acquirers
AI Summary
Novartis India Ltd has received the Letter of Offer from Axis Capital Limited, the Manager to the Open Offer. This pertains to the substantial acquisition of shares by WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners, along with ChrysCapital X, LLC and OceanEdge Investments Limited as persons acting in concert. The open offer aims to acquire up to 64,19,608 equity shares, representing 26% of the voting share capital. The Letter of Offer has been dispatched to all eligible public shareholders.
Key Highlights
- Novartis India received the official Letter of Offer for an open offer.
- Acquirers include WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners.
- The open offer targets up to 64,19,608 shares (26% voting capital).
- Axis Capital Limited is acting as the Manager to the Open Offer.
- Letter of Offer sent to public shareholders as of May 27, 2026.