Novartis India’s headcount: 57. Chryscapital’s price for it: Rs 1,400 cr. Investors after the deal: “We love it”
The post Novartis India’s headcount: 57. Chryscapital’s price for it: Rs 1,400 cr. Investors after the deal: “We love it” appeared first on The Ken .
On June 11, ChrystCapital invested Rs 552 crore to acquire public shares in Novartis India, ultimately spending less than Rs 35,000 for 40 shares. This open offer was made following ChrystCapital's Rs 1,400 crore deal to purchase 70.68% of Novartis India, renaming the listed arm Evonile Pharma. The offer priced the stock at Rs 860.64, and by the time shares opened a week earlier, they had closed at Rs 1,351.
Consequently, 38,000 public shareholders held on, owning 29% of the company, with ChrystCapital owning the remaining 71%.
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