Novartis India surges 20% on stake sale news
after close1 source ↓written by the desknot a recommendation
- on Friday
- 20%
- stake sale
- ₹1,446 crore ($159 million)
- will be acquired
- 70.68% stake
- with WaveRise purchasing
- 56.45%
- ₹860.64 per share
Shares of Novartis India surged 20% on Friday, hitting the upper circuit after its Swiss parent, Novartis AG, announced a ₹1,446 crore ($159 million) stake sale. The 70.68% stake will be acquired by WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners, with WaveRise purchasing 56.45% at ₹860.64 per share. This divestment signals a significant shift in ownership for Novartis India.
Not investment advice. For informational purposes only.