ChrysCapital-led Open Offer Sees Near-Zero Tendering
NOVARTIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 6.9 pts more than Nifty Microcap 250 and 7.3 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Axis Capital, manager to the open offer, reports that as of June 19, 2026, only 10 equity shares (0.00 percent of offer size) had been tendered by public shareholders of Novartis India. The offer covers up to 64,19,608 shares, equal to 26 percent of voting share capital, at INR 5 face value. Acquirers are WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners, with ChrysCapital X LLC and OceanEdge Investments as persons acting in concert. NIL shares came in demat form, 10 in physical. Letter of Offer was dated June 1, 2026.
Very weak response from public shareholders so far. Offer still open; acceptance depends on valid tendering and SEBI SAST checks.