Acquirers Acquire 26% Stake in Novartis India Through Open Offer
The open offer for acquiring equity shares in Novartis India Limited, conducted by a consortium of entities including WaveRise Investments Limited and ChrysCapital Fund X, has reached completion. The acquisition aimed at securing a stake representing 26 percent of the Target Company's Voting Share Capital.WaveRise Investments Limited (Acquirer 1), ChrysCapital Fund X (Acquirer 2), Two Infinity Partners (Acquirer 3), alongside subsidiaries ChrysCapital X, LLC (PAC 1) and OceanEdge Investments Limited (PAC 2), collectively known as the Acquirers and PACs, managed the offer. The public offer was conducted for the acquisition of up to 64,19,608 fully paid-up equity shares of Novartis India Limited, each having a face value of INR 5.
The open offer commenced on June 11, 2026, and concluded on June 24, 2026. The proposed consideration for the acquisition was structured at ₹860.64 per Offer Share.
Acquisition and Shareholding Details
The comprehensive details of the acquisition and resulting shareholding are outlined below, covering both shares acquired through agreements prior to the open offer and those secured during the open offer period.| Particulars | Value/Shares |
|---|---|
| Total Equity Shares Offered | 64,19,608 |
| Percentage of Voting Share Capital Acquired via Open Offer | 26% |
| Offer Price | ₹860.64 per Offer Share |
The acquisition process involved multiple layers of shareholding, encompassing shares acquired through prior agreements and those obtained from the public during the open offer.
Shares Acquired by Agreements
Prior to the commencement of the Open Offer, the Acquirers and PACs secured 1,74,50,680 equity shares through various agreements, representing a total of 70.68% of the Target Company's equity share capital. Breakdown of these acquisitions includes:| Entity | Shares Acquired | Percentage of Voting Share Capital |
|---|---|---|
| WaveRise Investments Limited (Acquirer 1) | 1,39,38,382 | 56.45% |
| ChrysCapital Fund X (Acquirer 2) | 25,47,189 | 10.32% |
| Two Infinity Partners (Acquirer 3) | 9,65,109 | 3.91% |
| Acquirers and PACs Total | 1,74,50,680 | 70.68% |
Shares Acquired via Open Offer
The open offer successfully acquired a total of 64,19,608 shares, which constitutes 26 percent of the Voting Share Capital. This acquisition was distributed among the entities as follows:| Entity | Shares Acquired (Open Offer) | Percentage of Voting Share Capital |
|---|---|---|
| Acquirers and PACs Total | 64,19,608 | 26% |
Pre and Post Offer Shareholding Summary
The acquisition significantly altered the shareholding structure of Novartis India Limited. Pre-offer analysis showed Public Shareholders holding 72,40,117 shares (29.32% of Voting Share Capital). Following the completion of the Open Offer, the public shareholding was reduced to 64,19,608 shares (26%).The post-offer shareholding of the Acquirers stands as follows:
| Entity | Shares Held (Post-Offer) | Percentage of Voting Share Capital |
|---|---|---|
| Acquirers and PACs Total | 64,19,608 | 26% |
NOVARTIND Stock Price Movement
On Thursday, Novartis India Limited shares edged higher, closing at ₹1466.3 after gaining 1.21% in trading. The stock traded within a tight range during the session, hitting a daily high of ₹1515 and finding a low of ₹1448.1.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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