Swiss pharmaceutical giant Novartis announced on February 20, 2026, its decision to sell its entire 70.68% stake in its Indian subisdiary for ₹14.46 billion ($159 million). The stake will be acquired by a consortium comprising WaveRise Investments, ChrysCapital, and Two Infinity Partners.
In compliance with takeover regulations, the consortium has also extended an offer to purchase an additional 26% stake from Novartis India’s public shareholders. The offer price is set at 860.64 rupees per share, which represents a 3.6% premium over the closing price on February 19, 2026.
This transaction marks a significant shift for Novartis, which has been a key player in the Indian pharmaceutical market. The decision to divest its stake comes amidst a strategic realignment of its global operations.
Looking forward, the acquisition is expected to influence the dynamics of the Indian pharmaceutical sector, with potential impacts on market competition and shareholder value. The consortium’s future plans for Novartis India remain to be seen.
Published in SouthAsianDesk, February 20th, 2026
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