Novartis India Ltd Receives Open Offer from Axis Capital Limited for 26% Stake

Novartis India Limited has received a public announcement from Axis Capital Limited, acting on behalf of WaveRise Investments Limited, ChrysCapital Fund X, Two Infinity Partners, ChrysCapital X, LLC, and OceanEdge Investments Limited. These entities, collectively referred to as the Acquirers, are planning to acquire up to 64,19,608 fully paid-up equity shares, representing 26% of the Voting Share Capital, from the Public Shareholders of Novartis India Limited. The offer is priced at INR 860.64 per Equity Share, amounting to a total consideration of INR 552,49,71,429.12. The offer is being made in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.