Novartis AG Reclassified to Public Shareholder Post 70.68% Stake Sale

Novartis India Ltd has announced the completion of the sale of 1,74,50,680 equity shares, representing 70.68% of its equity share capital, by Novartis AG (NAG) to WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners (collectively CC). This transaction, along with an open offer to public shareholders, has resulted in CC acquiring control of the company. Consequently, NAG has been reclassified from the 'Promoter' category to the 'Public' category, effective from the closing date of July 29, 2026. NAG has also undertaken not to take actions that could lead to its reclassification back as a promoter.