Acquirers Announce Open Offer for 26% Stake in Novartis India Ltd at INR 860.64 Per Share

Axis Capital Limited has submitted a public announcement for an open offer to acquire up to 64,19,608 fully paid-up equity shares of Novartis India Ltd, representing 26% of the voting share capital, at a price of INR 860.64 per share. The acquirers are WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners. The offer is being made in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The offer price is determined in accordance with Regulations 8(1) and 8(2) of the SEBI (SAST) Regulations and may be revised. The offer is a triggered offer and not subject to any minimum level of acceptance or a competing offer.