Key Quantitative Figures
- Open offer size: 64,19,608 (sixty four lakhs nineteen thousand six hundred and eight) fully paid-up equity shares
- Face value: INR 5 per share
- Percentage of voting share capital: 26%
- Shares tendered in dematerialized form: NIL (0% of offer size)
- Shares tendered in physical form: NIL (0% of offer size)
Dates of Action
- Disclosure date: June 11, 2026
- Tender date referenced: June 11, 2026
- Letter of Offer date: June 1, 2026
Parties Involved
Acquirers:
- WaveRise Investments Limited (Acquirer 1)
- ChrysCapital Fund X, the first scheme of ChrysCapital Trust I (Acquirer 2)
- Two Infinity Partners (Acquirer 3)
Persons Acting in Concert (PACs):
- ChrysCapital X, LLC (PAC 1)
- OceanEdge Investments Limited (PAC 2)
Service Providers:
- Manager to the Open Offer: Axis Capital Limited
- Registrar to the Open Offer: Not specifically named
- Depository Participant: Ventura Securities Limited (DP ID: IN303116)
Account Details:
- Open Offer Escrow Demat Account: "MIIPL NOVARTIS INDIA LIMITED OPEN OFFER ESCROW DEMAT ACCOUNT"
- Client ID: 15855051
- PAN: AAACH2914F
Regulatory Framework
- Governed by SEBI (SAST) Regulations
- Letter of Offer dated June 1, 2026
- Disclosure made to BSE Limited
Process Clarifications
The disclosure expressly clarifies that:
- The figures represent preliminary tender data only
- Shares tendered are subject to validation and verification of complete document submission
- The number of shares "validly tendered" may differ from final accepted shares
- Acceptance will be in accordance with SEBI (SAST) Regulations and the Letter of Offer
Capital Structure Impact
The open offer, if successful, would result in acquisition of up to 26% of the voting share capital from public shareholders, though no shares have been tendered as of the disclosure date.
Financial Impact
No financial impact quantified in this disclosure as it relates to tender process status rather than completed transaction.