Novartis India Board Approves Covenant Deed for Major Promoter Stake Sale Transaction
Novartis India Limited's board approved execution of a company covenant and warranty deed for the sale of 1,74,50,680 equity shares (70.68% stake) by promoter Novartis AG to three acquirers. The deed includes customary warranties, operational obligations, and requires a name change within 120 days of transaction completion. Upon completion, Novartis AG will cease to be the promoter while the acquirers will gain control of the company.
