Novartis Sells Majority Stake in Indian Arm to ChrysCapital

Swiss drug major Novartis has agreed to sell its 70.68% stake in Novartis India Ltd to ChrysCapital group for around Rs 1,446 crore. The transaction, expected to conclude in the third quarter of 2026, includes a mandatory open offer to public shareholders, signaling Novartis’s focus on innovative medicines.

In a significant reshaping of its Indian operations, Swiss drug giant Novartis has announced an agreement to sell its 70.68% stake in Novartis India Ltd to the private equity firm ChrysCapital group. The deal, valued at approximately Rs 1,446 crore, marks a pivotal moment in Novartis's strategic realignment of its global footprint, first initiated in February 2024.

As part of the transaction's framework, a mandatory open offer has been extended to public shareholders, permitting the acquisition of up to 26% of Novartis India's equity for Rs 860.64 per share, totaling Rs 552.49 crore. This move aligns with the company's global strategy to streamline operations and concentrate on its innovative medicines portfolio.

Despite the divestment, Novartis will maintain its Indian market presence through its wholly-owned subsidiary, Novartis Healthcare Pvt Ltd, which houses its commercial, research, and development sectors. The company reinforces its commitment to the Indian market with ongoing expansion in its Cardio Renal Metabolic and Oncology portfolios.

(With inputs from agencies.)