Novartis India Board Notes Share Sale, Promoter Reclassification

Novartis India Limited's Board of Directors met on July 29, 2026, to acknowledge the completion of the sale of 17,450,680 equity shares by Novartis AG to WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners. This transaction signifies a change in control, with Novartis AG ceasing to be the promoter and WaveRise and ChrysCapital Fund X acquiring control. Consequently, Novartis AG has been reclassified from 'promoter' to 'public' category. The board also appointed three additional directors: Mr. Ashok Bhatia, Mr. Kshitij Sheth, and Dr. Jagriti Gupta, as well as three additional independent directors.