Novartis to sell its 70.68% stake in Novartis India to a consortium of buyers for ₹1,446 crore

Novartis AG has agreed to sell a majority stake in its listed Indian unit, marking the culmination of a strategic review announced two years ago.The Swiss drugmaker will sell its 70.68% stake in Novartis India Ltd. to a consortium of WaveRise Investments, ChrysCapital Fund X and Two Infinity Partners for ₹1,446 crore ($159 million), according to a statement to the exchanges.The buyers have also launched an open offer to acquire up to 26% of Novartis India at ₹860.84 a share, valuing the offer at about ₹552 ...