Novartis India Board Approves Director Changes Post-Sale

Novartis India Limited's Board of Directors convened for its 245th meeting on July 29, 2026. Key outcomes include noting the completion of the sale of 17,450,680 equity shares by Novartis AG to WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners. This transaction signifies the completion of the open offer and the transfer of control, with Novartis AG ceasing to be a promoter and reclassified to the 'public' category. Consequently, WaveRise and Fund X have acquired control of the company. The board also approved the appointment of three additional directors: Mr. Ashok Bhatia, Mr. Kshitij Sheth, and Dr. Jagriti Gupta, along with three additional independent directors, all effective from July 29, 2026.