Bhubaneswar, Feb 20: Following a formal deal reportedly done and the official transaction executed yesterday (February 19, 2026), Swiss drug major Novartis AG has reportedly consented as well as inked a definitive agreement to sell its Novartis India stake of 70.68 per cent to a consortium led by ChrysCapital comprising of other two acquirers, reportedly, WaveRise Investments Limited and Two Infinity Partners.
Reports claimed that such a development has made ChrysCapital foray into its maiden entry into the Indian pharmaceutical arena as the execution of the transaction reportedly witnessed transfer of control from Swiss Novartis AG to ChrysCapital-led consortium where 1.74 crore shares reportedly changed hands.
Also, ChrysCapital has now been reportedly empowered with the formal right to nominate directors of its choice to the board of the Novartis India now.
Reports added that the ChrysCapital-led consortium has now launched a “mandatory open offer to public shareholders at Rs 860.64 per share” in accordance with the takeover regulations laid down by the Securities and Exchange Board of India (SEBI).
It is important to mention that, Novartis India deals in the pharmaceutical products meant for healthcare treatment of mainly diabetes, dermatology, cardiology and neurology.
Also Read: Falling Silver Price Posts ‘Recovery’ On MCX Despite US $’s Bad Effect
