India, July 30 -- image credit- freepik

ChrysCapital, one of the biggest private equity firms investing in India, has acquired a controlling 70.68% stake in Novartis India Limited (NIL), a BSE-listed Indian pharmaceutical company previously held by the Swiss multinational, Novartis AG.

The transaction marks a defining moment for ChrysCapital and for the Indian pharmaceutical sector bringing one of India's longstanding pharmaceutical businesses under dedicated private equity ownership, with the ambition to build a leading branded-generics platform for the Indian market.

The acquisition marks ChrysCapital's first majority-controlled investment in the Indian pharmaceutical sector and reflects the firm's strong conviction in the long-term ...