ChrysCapital Names Dr Vikas Gupta as Novartis India MD & CEO After Completing Majority Stake Acquisition

ChrysCapital has stated that it plans to leverage its healthcare investment experience and industry network to strengthen the company's market position and accelerate long-term growth in India's expanding branded pharmaceuticals market.

ChrysCapital, a Delhi-based private equity firm, has completed the acquisition of a 70.68% controlling stake in Novartis India, a Switzerland-based global healthcare company, and has appointed Dr Vikas Gupta as its Managing Director and Chief Executive Officer.

Alongside the leadership transition, the company has announced a new board and plans to establish Novartis India as a stronger branded-generics business in the country.

The transaction follows Novartis AG's strategic review of its listed Indian subsidiary, announced in 2024.

In February 2026, the Swiss pharmaceutical company agreed to sell its entire stake in Novartis India to a ChrysCapital-led consortium.

While Novartis AG has exited its shareholding in the listed entity, it continues to operate in India through its wholly owned subsidiary, Novartis Healthcare, which oversees its commercial operations, research activities, and clinical trials across the country.

With the acquisition now complete, ChrysCapital has introduced a new leadership team to steer the company's next stage of growth.

Dr Vikas Gupta will serve as Managing Director and Chief Executive Officer, while Ramesh Ramadurai has been appointed Chairperson of the Board. Suchita Sharma and Shashank Sinha have also joined the board as Independent Directors.

"NIL has earned its place in Indian healthcare over many decades," Dr Gupta said. "Today we begin a new and exciting chapter... with ChrysCapital's backing, we have the resources and focus to grow our portfolio with purpose."

Kshitij Sheth, Managing Director at ChrysCapital Advisors, said, "A strong management team is central to any successful organisation, and NIL is fortunate to have Dr Vikas Gupta at the helm."

The acquisition has been executed through a consortium comprising WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners.

Following the transaction, WaveRise Investments holds a 56.45% stake in Novartis India, ChrysCapital Fund X owns 10.32%, and Two Infinity Partners holds 3.91%. ChrysCapital X, LLC and OceanEdge Investments have been designated as Persons Acting in Concert but do not hold direct equity in the company.

Novartis AG has exited its ownership entirely and has been reclassified from the promoter category to the public shareholder category under SEBI regulations.

As part of its transition from the Novartis Group, Novartis India will adopt a new corporate identity and name in the coming months.

ChrysCapital has stated that it plans to leverage its healthcare investment experience and industry network to strengthen the company's market position and accelerate long-term growth in India's expanding branded pharmaceuticals market.

Stay tuned for more such updates on Digital Health News