Disclosure under Regulation 30 of SEBI LODR Regulations.
NOVARTIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Novartis AG, the Swiss parent and current promoter of Novartis India, has signed an agreement to sell its entire 70.68% stake (1,74,50,680 equity shares) to a consortium of three buyers — WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners — for a date of February 19, 2026. Once the deal closes, Novartis AG will cease to be the promoter, and the three acquirers will jointly become the new promoters and take control of the company. A mandatory open offer to public shareholders will be triggered under SEBI Takeover Rules at the same time. The company has also agreed to change its name within 120 days of completion to remove all references to the Novartis group. The transaction is not classified as a related-party deal for Novartis India.
This is a major change-of-control event — the Swiss parent is exiting India and well-known investor ChrysCapital is entering as a new promoter, which typically draws strong market attention and a re-rating of the stock. Public shareholders should watch for the mandatory open offer price and timeline, as they will get an exit opportunity at a regulated price.