Novartis India Shares in Focus: Promoter Novartis AG to Divest Majority Stake

On Friday, November 20, 2026, Novartis India shares are likely to be in focus as its promoter, Novartis AG, agreed to divest a controlling stake in the company. The stake sale will be executed in favour of a consortium of investors led by ChrysCapital.

In a regulatory filing, the company disclosed that Novartis AG has signed a Share Purchase Agreement (SPA) with WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners for the sale of 1.74 crore fully paid-up equity shares. The transaction represents 70.68% of Novartis India’s paid-up equity share capital.

Change in Promoter and Control

Following the completion of the deal, Novartis AG will cease to be the promoter of the company. The acquiring entities will assume control and be designated as the new promoters in accordance with applicable regulations.

As part of the transition, Novartis India will remove all references to the Novartis brand from its corporate identity. The company has committed to completing the name change within 120 days from the transaction’s closing.

Covenants, Warranties, and Open Offer Compliance

In connection with the transaction, Novartis India has executed a company covenant and warranty deed with both the seller and the incoming investors. Under the agreement, the company has provided customary warranties on a non-recourse basis.

Additionally, it has agreed to extend necessary support and furnish relevant information for the mandatory open offer to public shareholders, as required under SEBI regulations.

Also Read: ANMI Flags Concerns Over RBI’s Tighter Funding Norms 

The company has also undertaken to operate in the ordinary course of business until the deal is finalised and to complete all necessary regulatory filings following the closure of the transaction.

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