Novartis India shares surged 15 percent following a ChrysCapital-led consortium's announcement to acquire Swiss pharma giant Novartis AG's 70.68 percent stake in the Indian subsidiary. The stock jumped to ₹953.85 on BSE, up from ₹830.45, hitting the upper price band of ₹996.50 during intraday trading. The consortium, comprising WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners, signed a Share Purchase Agreement valued at approximately ₹1,446 crore. The acquisition triggers a mandatory open offer to public shareholders at ₹860.64 per share for up to 26 percent of voting capital, worth approximately ₹552 crore if fully subscribed. Trading volume surged significantly, with turnover reaching ₹80.72 crore. The offer price sits below current market levels, reflecting deal certainty expectations. The company must change its name within 120 days post-closure.
