Novartis to exit Indian unit in $159 million deal
The Hindu
Novartis sells 70.68% stake in its Indian unit for $159 million to a consortium including WaveRise Investments and ChrysCapital.
Swiss drugmaker Novartis said on Friday (February 20, 2026) it would sell its entire 70.68% stake in its listed Indian unit for ₹14.46 billion ($159 million).
The stake will be acquired by a consortium of WaveRise Investments, ChrysCapital and Two Infinity Partners.
The companies have also made an offer to purchase an additional 26% stake from Novartis India’s public shareholders, under takeover regulations that mandate such an exercise on purchase of a shareholding of over 25%.
The consortium will offer Novartis India’s public shareholders 860.64 rupees per share, an exchange filing showed, representing a 3.6% premium to its closing price on Thursday.
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