Novartis India Open Offer Receives Minimal Tender Response

Open Offer Details

The open offer is for acquisition of up to 64,19,608 (sixty four lakhs nineteen thousand six hundred and eight) fully paid-up equity shares of face value of ₹5 each, representing 26% of the voting share capital of Novartis India Limited.

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)

Tender Status as of June 22, 2026

Demat Form Tenders:

• Number of Equity Shares: NIL
• Percentage of Offer Size: NIL%
• Escrow Account: MIIPL NOVARTIS INDIA LIMITED OPEN OFFER ESCROW DEMAT ACCOUNT
• Depository Participant: Ventura Securities Limited
• DP ID: IN303116
• Client ID: 15855051
• PAN: AAACH2914F

Physical Form Tenders:

• Number of Equity Shares: 10
• Percentage of Offer Size: 0.00%

Important Clarifications

The disclosure explicitly states that:

1. The figures represent preliminary tenders and are subject to validation and verification of complete document submission

2. Equity shares "validly tendered" will be accepted in accordance with SEBI (SAST) Regulations and the Letter of Offer dated June 1, 2026

3. The number of shares tendered may differ from the number ultimately accepted by the Acquirers

4. Capitalized terms not defined in the disclosure carry the same meaning as in the Letter of Offer