This disclosure is filed pursuant to regulation 30 and 30A of SEBI LODR regulations read with clause 5A of Para A of Part A of Schedule III of the Listing Regulations.
NOVARTIND · price
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Awaiting price reaction for this filing.
Novartis India Ltd has informed BSE that its promoter, Novartis AG, has signed a Share Purchase Agreement (SPA) on February 19, 2026, to sell its entire 1,74,50,680 equity shares (70.68% of equity capital) to three acquirers. WaveRise Investments will buy 56.45% at INR 860.64 per share, ChrysCapital Fund X will buy 10.32% at INR 701.25 per share, and Two Infinity Partners will buy 3.91% at INR 701.25 per share. The deal is subject to customary conditions precedent. As a result of crossing the takeover threshold, the acquirers (along with persons acting in concert) are required to make a mandatory open offer to public shareholders under SEBI Takeover Regulations. Post-closing, Novartis AG will cease to be promoter and will be reclassified as 'public', while the acquirers will become new promoters with control of the company. The company may also be renamed within a specified period after closing.
This is a major change-of-control transaction. Public shareholders will get an opportunity to tender shares in the mandatory open offer, with the open offer price expected to be aligned to the SPA prices (INR 701.25 or higher). The stock is likely to see sharp movement as the deal signals a floor price and a potential rebranding, while long-term investors should watch the acquirers' future business plans for the company.