Open Offer for Novartis India Shares: Tender Status Reported Amid Acquisition Attempt
Star Housing Finance Ltd has disclosed updates regarding the open offer pertaining to the acquisition of shares of Novartis India Limited by a consortium of investors, including WaveRise Investments Limited and ChrysCapital Fund X. The offer involves acquiring up to 64,19,608 fully paidup equity shares, representing 26% of the Voting Share Capital of Novartis India Limited.The open offer was launched by Acquirer 1 (WaveRise Investments Limited), Acquirer 2 (ChrysCapital Fund X), and Acquirer 3 (Two Infinity Partners). The acquisition is being undertaken in conjunction with PAC 1 (ChrysCapital X, LLC) and PAC 2 (OceanEdge Investments Limited).
Tender Status Update
A report on the number of equity shares tendered in connection with the open offer, as of June 17, 2026, indicates that no shares have been tendered for acquisition through either dematerialized or physical channels.The financial details of the tender status are summarized below:
| Tender Type | Shares Tendered (as of 17/06/2026) | Offer Size Percentage |
|---|---|---|
| Demat Form | NIL | NIL% |
| Physical Form | NIL | NIL% |
The zero tender rate applies to the Open Offer Escrow Demat Account and physical submissions made to the Registrar to the Open Offer.
Acquisition Details
The open offer relates to the acquisition of equity shares from Public Shareholders of Novartis India Limited by the Acquirers. The total number of shares in the offer size is up to 64,19,608, with each share having a face value of INR 5.It is noted that the Equity Shares tendered by the Public Shareholders are subject to validation and verification of submission of the complete set of documents. The final number of Equity Shares accepted by the Acquirers may differ from the amount tendered by the public shareholders.
Stock Price Movement
Star Housing Finance Ltd concluded trading on Wednesday having settled at ₹7.29, edging up 0.28% in the session. Throughout the day, shares experienced intraday movement, finding a low of ₹6.91 against a peak that reached ₹7.50.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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