The Company would hereby like to intimate to the Stock Exchange that, the Company has received from manager to the open offer (Axis Capital Limited) the draft letter of offer dated March 05, 2026.
NOVARTIND · price
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Awaiting price reaction for this filing.
Novartis India has received the Draft Letter of Offer dated March 5, 2026 from Axis Capital, the manager to an open offer for the company. The offer is being made by three acquirers — WaveRise Investments, ChrysCapital Fund X (via ChrysCapital Trust I), and Two Infinity Partners — together with two persons acting in concert, ChrysCapital X LLC and OceanEdge Investments. This follows the initial public announcement on February 19, 2026 and the detailed public statement on February 26, 2026. The filing is a procedural update informing the stock exchange that the draft offer document has been formally submitted. The next step will be the final letter of offer, after which shareholders can tender their shares during the open offer window.
Shareholders should watch for the final offer price and tender window dates, as the open offer gives them a chance to exit at the offer price. The involvement of ChrysCapital, a major private equity firm, signals a likely change in control or significant stake acquisition, which could affect trading volumes and price discovery around the offer period.