Novartis India Ltd surges on $159 million parent stake sale

Novartis AG

20/02/2026 04:13

** Shares of Novartis India Ltd NOIN.BO jump 18% to a seven-month high of 979.95 rupees

** Co's parent Novartis NOVN.S set to sell its entire 70.68% stake in NOIN for 14.46 billion rupees ($158.95 million)

** A consortium of WaveRise Investments, ChrysCapital and Two Infinity Partners will acquire the stake.

** The consortium has also made an offer to purchase an additional 26% stake from Novartis India's public shareholders, under takeover regulations

** It will offer the shareholders 860.64 rupees per share, a 3.6% premium to its last closing price

** YTD, NOIN up 24%

($1 = 90.9720 Indian rupees)

 (Reporting by Brijesh Patel in Bengaluru)

 ((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))