Axis Capital Limited, in its capacity as the Manager to the Open Offer, has submitted a regulatory disclosure to BSE Limited regarding the open offer for Novartis India Limited.

Nature of the Disclosure

This is a daily disclosure update on the number of equity shares tendered by public shareholders in response to the open offer.

Key Quantitative Figures

  • Offer Size: 64,19,608 fully paid-up equity shares.
  • Face Value: INR 5 per share.
  • Percentage of Voting Share Capital: 26%.
  • Shares Tendered in Demat Form (June 17, 2026): NIL (0% of Offer Size).
  • Shares Tendered in Physical Form (June 17, 2026): NIL (0% of Offer Size).

Parties Involved

  • Target Company: Novartis India Limited.
  • Acquirers: WaveRise Investments Limited (Acquirer 1), ChrysCapital Fund X (the first scheme of ChrysCapital Trust I, a SEBI-registered Category II AIF) (Acquirer 2), and Two Infinity Partners (Acquirer 3).
  • Persons Acting in Concert (PACs): ChrysCapital X, LLC (PAC 1) and OceanEdge Investments Limited (PAC 2).
  • Manager to the Open Offer: Axis Capital Limited.
  • Registrar to the Open Offer: Not named in this specific disclosure.
  • Depository Participant for Escrow Account: Ventura Securities Limited.
  • Open Offer Escrow Demat Account: "MIIPL NOVARTIS INDIA LIMITED OPEN OFFER ESCROW DEMAT ACCOUNT" (DP ID: IN303116, Client ID: 15855051, PAN: AAACH2914F).

Clarifications on the Disclosure

The disclosure clarifies that the figures represent shares tendered as per statements from Ventura Securities Limited and the Registrar. These shares are subject to validation and verification of submission of a complete set of documents. The number of Equity Shares that will be validly tendered and ultimately accepted by the Acquirers may differ from the figures disclosed in this update. The final acceptance will be in accordance with the SEBI (SAST) Regulations and the Letter of Offer.

Capital Structure Impact

The open offer is for the acquisition of up to 26% of the voting share capital from public shareholders. The disclosure of zero shares tendered on this specific date indicates no immediate change in the capital structure from this offer as of June 17, 2026.