Novartis India Board approves share sale completion, new CEO, CFO
Novartis India Ltd's Board of Directors, at its 247th meeting on July 29, 2026, announced the completion of the sale of 17,450,680 equity shares from Novartis AG to WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners. The Board also approved several key business agreements, including a Tegrital Brand License Deed, a Distribution Agreement with Novartis Pharma Services AG for product distribution in India, and a Trademark Assignment and License Deed. Additionally, Dr. Vikas Gupta was appointed as Additional Director and CEO, with a proposed re-designation to MD & CEO, and Mr. Bhagwat Singh Deora was appointed as Chief Financial Officer, both effective July 29, 2026. The Board also adopted and revised various corporate policies and codes.
Key Highlights
- Sale of 17.45 million equity shares by Novartis AG to CC consortium completed.
- Board approved Tegrital brand license and trademark assignment from Novartis AG.
- Company appointed as distributor for Novartis Pharma Services AG products in India.
- Dr. Vikas Gupta appointed CEO, Mr. Bhagwat Singh Deora appointed CFO.
- Various corporate policies and codes were adopted or revised by the Board.
Price Impact
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