Board Change • Apr 21
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Gira Sardesai was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₹997, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 27x in the Pharmaceuticals industry in India. Total returns to shareholders of 85% over the past three years. Announcement • Feb 20
Chryscapital Fund X, a fund managed by ChrysCapital Advisors LLP and Two Infinity Partners entered into the Agreement to acquire to acquire 14.23% stake in Novartis India Limited (BSE:500672) from Novartis AG (SWX:NOVN) for INR 2.5 billion. Chryscapital Fund X, a fund managed by ChrysCapital Advisors LLP and Two Infinity Partners entered into the Agreement to acquire to acquire 14.23% stake in Novartis India Limited (BSE:500672) from Novartis AG (SWX:NOVN) for INR 2.5 billion on February 19, 2026. Under the terms of the acquisition, ChrysCapital Advisors LLP and Two Infinity Partners will pay INR 701.25 in cash per share and is subject to certain adjustments. In a separate transactions, Waverise Investments Limited entered into the Agreement to acquire 56.45% stake in Novartis India Limited from Novartis AG, and Waverise Investments Limited, Chryscapital Fund X, a fund managed by ChrysCapital Advisors LLP and Two Infinity Partners proposed to acquire 26% stake in Novartis India Limited. Upon completion of SPA and open offer, Waverise Investments Limited, Chryscapital Fund X, a fund managed by ChrysCapital Advisors LLP and Two Infinity Partners will hold 72.78%, 17.33% and 6.57% stake respectively in Novartis India Limited and Novartis AG will lo longer hold any stake in Novartis India Limited. Upon completion, Novartis India Limited will change its name.
The transaction is subject to receipt of requisite regulatory and corporate approvals. 
