💊 Novartis India Hits 20% Upper Circuit After Promoter Exit & Open Offer Announcement

Shares of Novartis India surged 20% to ₹996.5, hitting the upper circuit after parent Novartis AG agreed to sell its 70.68% stake to a consortium led by ChrysCapital. The transaction involves sale of 1.74 crore shares, with: 56.45% stake acquired at ₹860.64 per share Additional 10.32% and 3.91% stakes at ₹701.25 per share Upon completion, the acquirers will assume control and become the new promoters, while Novartis AG will cease to be the promoter of the company. As per SEBI regulations, a mandatory open offer at ₹860.64 per share will be made to public shareholders, managed by Axis Capital. Notably, the stock was trading around ₹974, implying a ~13% premium to the open offer price. 📌 StockYard Take: Promoter change and control transition triggered strong re-rating expectations, driving sharp buying interest. #NovartisIndia #OpenOffer #StakeSale #PharmaStocks #StockYardResearch