Novartis AG to Sell 70.68% Stake in Novartis India Ltd to WaveRise Investments, ChrysCapital and Two Infinity Partners

Novartis AG, the promoter of Novartis India Ltd, has entered into an agreement to sell 1,74,50,680 fully paid-up equity shares, representing 70.68% of the paid-up equity share capital, to WaveRise Investments Limited, ChrysCapital Fund X and Two Infinity Partners. The transaction is expected to be completed by February 19, 2026. Post-completion, Novartis AG will cease to be a 'Promoter' of the company, and the acquirers will acquire control and be classified as the 'Promoter'. The company has agreed to comply with certain customary interim obligations and post-closing obligations.