Novartis India: Independent Directors Recommend on Open Offer

Novartis India Limited's Committee of Independent Directors (IDC) met on June 04, 2026, to provide reasoned recommendations on the open offer made by WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners. The offer aims to acquire up to 64,19,608 equity shares, representing 26% of the company's voting share capital, at an price of ₹860.64 per share. The IDC reviewed the Detailed Public Statement, Letter of Offer, and Valuation Report before issuing their recommendations as per SEBI (SAST) Regulations, 2011.