Private Equity

PE-VC Fund Investments

ChrysCapital to acquire 71% stake in drugmaker Novartis India for Rs.1,446-Cr

BSE Announcement   Business Line   Novartis India  

Mumbai-based Novartis India is being acquired by PE firm ChrysCapital (via WaveRise Investments Ltd, ChrysCapital Fund X, and Two Infinity Partners). Swiss pharma major Novartis would sell its 70.68% stake in the Indian arm for INR 1,446 crore.WaveRise Investments will acquire 13,938,382 equity shares at INR 860.64 per share, representing a 56.45% stake. ChrysCapital Fund X and Two Infinity Partners will acquire 2,547,189 and 965,109 equity shares at INR 701.25 per share, representing a 10.32% and 3.91% stake, respectively. The acquiring companies have also announced an open offer to acquire the remaining shares in Novartis India.Novartis India is an innovative medicines company focusing on oncology, cardiology, and immunology.