Novartis India Board Notes Director Resignations, Approves Share Sale Completion

Novartis India Limited's Board of Directors, in its 245th meeting on July 29, 2026, acknowledged director resignations. The board also took note of the completion of the Open Offer and the sale of 17,450,680 equity shares from Novartis AG to WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners. Consequently, Novartis AG has ceased to be the promoter and control of the company, with WaveRise and Fund X acquiring control. Novartis AG has been reclassified from 'promoter' to 'public' category. Additionally, three non-executive, non-independent directors and three independent directors were appointed.