Published by Global Banking & Finance Review®
Posted on February 20, 2026
2 min readLast updated: April 3, 2026
Add as preferred source on GoogleNovartis will sell its entire 70.68% stake in Novartis India to a consortium of WaveRise Investments, ChrysCapital and Two Infinity Partners. The change-of-control deal awaits customary approvals.
Feb 20 (Reuters) - Swiss drugmaker Novartis will sell its entire 70.68% stake in its listed Indian unit to a private equity-led consortium for about $159 million, as part of a broader global restructuring.
The consortium, comprising WaveRise Investments, ChrysCapital Fund X and Two Infinity Partners, will buy the stake in Novartis India through a share purchase agreement.
The group has also made a mandatory open offer to buy an additional 26% of the company at 860.64 rupees per share, a 3.6% premium to its closing price on Thursday.
Shares of Novartis India surged nearly 20% to 996.5 rupees on Friday.
The exit comes two years after Novartis began a strategic review of Novartis India, including assessing its stake in the Mumbai-based firm.
In April 2025, Novartis announced plans to spend $23 billion to build and expand in the U.S., as it faced renewed threats of drug import duties on pharmaceuticals under the Trump administration.
The Swiss company does not have a manufacturing presence in India. Novartis India primarily sells medicines, including Voveran, used to treat joint pain.
($1 = 91.0290 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)
Novartis AG announced plans to sell its entire 70.68% stake in Novartis India Limited to a consortium of WaveRise Investments, ChrysCapital and Two Infinity Partners.
The stake is being acquired by a consortium comprising WaveRise Investments, ChrysCapital and Two Infinity Partners.
It represents a change of control at Novartis India. Completion will depend on regulatory and corporate approvals, after which further transaction details and next steps may be communicated.
Explore more articles in the Finance category
