Mumbai: Novartis India Ltd said on Thursday it was not aware of any plan by its parent to delist its shares from the Bombay Stock Exchange, after a news report said its Swiss parent was considering taking the arm private.
Earlier on Thursday, Bloomberg reported citing people with knowledge of the matter that Swiss drugmaker Novartis AG, which owns three quarters of Novartis India, was considering buying all the shares it didn’t already own in the arm.
“The board of the company has not received any notice from the promoters of the company, Novartis AG, on its intention to delist the equity shares of the company from the Bombay Stock Exchange Limited,” Novartis India said in a statement after trading hours.
Novartis India shares closed 15.7% higher at Rs838.60. The stock jumped as much as 20%, its maximum daily limit, during trade. Reuters
