Novartis to exit Indian unit in ₹1,446 crore deal; shares jump 18%

Swiss pharmaceutical major Novartis has signed a deal to sell its majority 70.68% stake in its India unit for around ₹1,446 crore. The stake will be purchased by a consortium of WaveRise Investments Limited, ChrysCapital Fund X and Two Infinity Partners. Shares of Novartis India jumped more than 18% on Friday following the deal.