NOVARTIS INDIA LTD.

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.

Novartis India Ltd has received the Letter of Offer from Axis Capital Limited, the Manager to the Open Offer. This pertains to the substantial acquisition of shares by WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners, along with ChrysCapital X, LLC and OceanEdge Investments Limited as persons acting in concert. The open offer aims to acquire up to 64,19,608 equity shares, representing 26% of the voting share capital. The Letter of Offer has been dispatched to all eligible public shareholders.

Novartis India Ltd announced its audited financial results for the quarter and financial year ended March 31, 2026. Key highlights include revenue from operations of ₹2,105.8 million for the year ended March 31, 2026, compared to ₹1,990.7 million in the previous year. The company reported a profit for the year of ₹931.8 million, compared to ₹1,009.0 million in the previous year. The Board also addressed disclosures related to loans, debt securities, and related party transactions.

Novartis India Ltd's Board of Directors approved the audited financial results for the quarter and financial year ended March 31, 2026, in a meeting held on May 12, 2026. The meeting, which commenced at 11:30 A.M. (IST) and concluded at 01:50 P.M. (IST), also took on record the Audit Report dated May 12, 2026, issued by the Statutory Auditors. The audited financial results and related documents are available on the company's website.

Novartis AG, the promoter of Novartis India Limited, has declared that it has not made any encumbrance of the company's equity shares as of March 31, 2026, in accordance with the SEBI Regulations. Additionally, Novartis AG has entered into an agreement for the sale and purchase of 1,74,50,680 equity shares, which represents 70.68% of the equity share capital, with WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners. This agreement was made on February 19, 2026.

Novartis India Ltd has announced that its Board of Directors will meet on May 12, 2026, to consider and approve the Audited Financial Results for the quarter and financial year ended March 31, 2026. In accordance with the SEBI regulations, the Trading Window for dealing in shares of the company by Designated Persons/ Insiders/ Connected Persons and their immediate relatives will be closed from April 1, 2026, and will open 48 hours after the financial results are declared to the Stock Exchange.

Novartis India Ltd has announced that its Board of Directors will meet on May 12, 2026, to consider and approve the Audited Financial Results for the quarter and financial year ended March 31, 2026. In accordance with the Code of Conduct and the SEBI (Prohibition of Insider Trading) Regulations, the Trading Window for dealing in shares of the company by Designated Persons/ Insiders/ Connected Persons and their immediate relatives will be closed from April 01, 2026. The Trading Window will reopen 48 hours after the financial results are declared to the Stock Exchange.

Novartis India Limited has received an Order dated March 27, 2026, from the Hon'ble Delhi High Court admitting the Company's petition in the matter of Novartis India Limited vs. Commissioner of Trade and Taxes (W.P.(C) 3892/2026). The Court has admitted the writ petition challenging the DVAT assessment for AY 2013-14, which had raised a demand of approximately INR 10.89 crore towards tax and interest, along with a penalty of INR 6.85 crore. The order is procedural in nature and does not constitute a final order in the matter. The impact on financial activities could result in a refund of INR 54.45 Lacs in case of a favorable order.

Novartis India Ltd has received a demand notice under Section 156 of the Income Tax Act, 1961, pertaining to proceedings concluded under Section 201 (1)/ 201(1A) of the Act for Assessment Year 2020-21. The company has also received an order in this regard on March 27, 2026. The demand is for INR 10,28,40,780, comprising of INR 5,75,85,157 and interest under section 201(1A) of INR 4,52,55,623. The company plans to file an appeal with the appropriate appellate authority and seek a stay of demand. The demand is due to alleged non-compliance with tax deducted at source provisions pertaining to alleged margin to stockist and interest on MSMEs.

Novartis India Ltd has appointed Ms. Gowree Gokhale as an Additional Director (Non-Executive and Independent Director) for a term of 5 years, starting from April 01, 2026. Ms. Gokhale is a distinguished Solicitor with over 30 years of diverse legal experience in various fields including Intellectual Property, Data Protection, Consumer Protection, Mergers & Acquisitions, Joint Ventures, and Competition Law. Simultaneously, the company is bidding farewell to Ms. Sandra Martyres, who will be completing her second and final term as an Independent Director on April 18, 2026.