Stake Sale
Novartis AG to sell its stake in Novartis India to consortium of ChrysCapital
This story was originally published at 11:58 IST on 20 February 2026
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HYDERABAD – Swiss drug maker Novartis AG on Friday said that the company proposed to sell its entire 70.68% stake in Indian arm Novartis India Ltd. A consortium of investment firms, including WaveRise Investments Ltd., ChrysCapital Fund X, and Two Infinity Partners are taking the controlling stake in Novartis India, Novartis India said in a filing to exchanges.
Following the Novartis announcement, the consortium also announced an open offer to buy up to 26% of more shares in the company at a price of INR 860.64 per share. Based on the open offer price, the 70.68% stake sale deal is valued at INR 14.5 billion. For the open offer, the consortium is expecting to spend INR 5.52 billion if the offer is fully accepted. The open offer price is at nearly 4% premium over the Thursday's closing price of Novartis India shares.
Novartis AG said the deal was expected to be completed in Jul-Sept. Novartis India is primarily engaged in marketing and distributing branded medicines across therapeutic areas like oncology, immunology, cardiovascular, renal, and neuroscience.
Swiss drug major Novartis said it will continue its presence in India through Novartis Healthcare Pvt. Ltd., a wholly owned subsidiary of the Novartis group in India. Novartis Health includes the commercial arm of Novartis in India, the Novartis Corporate Center in Hyderabad, and research and development teams, which currently conducts clinical trials at more than 300 trial sites in the country.
At 1130 IST, shares of Novartis India traded at INR 970 on the National Stock Exchange, up 16.8% from their previous close. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Narayana Krishna
Edited by Akul Nishant Akhoury
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