360 One Group CEO Bhagat Buys Novartis India Shares Worth Rs 22 Crore
· Business · Economic Times, Business Standard
Karan Bhagat, founder and CEO of 360 One Group, purchased 1.3 lakh shares of Novartis India for nearly Rs 22 crore through open market transactions on the BSE. The shares represent a 0.53 per cent stake and were acquired at an average price of Rs 1,670.52 apiece from private investment firm Kyrush Investments. Simultaneously, Novartis India announced that its board approved acquiring the trademarks 'Minipress' and 'Minipres' from Pfizer for Rs 1,250 crore. This follows Novartis AG's earlier agreement to sell its 70.68 per cent stake in Novartis India to a consortium led by ChrysCapital, WaveRise Investments, and Two Infinity Partners.
Why it matters
The high-value insider transaction and major trademark acquisition signal significant corporate restructuring within Novartis India.
Read the original report — Economic Times
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