🇮🇳 India Daybook: Adani’s ₹765 Cr Acquisition, Cipla’s USFDA Win & Heavyweight Dividends

📍 ACQUISITION

• Adani Enterprises: Its joint venture, AdaniConneX, has completed the 100% acquisition of MBEL for a total consideration of ₹765 crore.
• JK Paper: The company has increased its stake in Borkar Packaging to 87.36% by acquiring an additional 15.40% equity (40.1 lakh shares).
• Astral: Its subsidiary is set to acquire a 60% partnership interest in DSS for ₹39.1 crore to expand its portfolio.
• Sagility: The firm signed a definitive agreement to acquire 100% of Careseed LLC for an amount up to $30 million.
• Gujarat Alkalies: Successfully acquired a 26% equity stake in Cleanmax Sphere Energy for a consideration of ₹32 crore.

📍 REGULATORY

• Cipla: The USFDA has classified the company’s Goa manufacturing facility as 'Voluntary Action Indicated' (VAI), effectively clearing the path for new product approvals.
• Concord Biotech: Received USFDA approval for its Abbreviated New Drug Application (ANDA) for Tofacitinib Tablets (5 mg and 10 mg) and Mycophenolate Mofetil for Oral Suspension.
• Wockhardt: Secured USFDA approval for an innovative drug, marking a significant milestone in its proprietary antibiotic discovery program.

📍 STRATEGIC PARTNERSHIP & AI

• Happiest Minds: Launched 'Rel(AI) Build', a new Agentic AI platform designed to enhance enterprise automation.
• TCS: Partnered with Anthropic to integrate advanced AI models into its enterprise solutions to accelerate global AI adoption.
• Infosys: Entered into a strategic pact with the CMMI Institute to develop a comprehensive AI Maturity Framework for businesses.

📍 FUNDRAISING

• Tata Capital: The NBFC successfully allotted Non-Convertible Debentures (NCDs) worth ₹2,030 crore on a private placement basis.
• Vedanta: The board has approved a plan to raise up to ₹2,575 crore through the issuance of debentures to strengthen its balance sheet.
• Ratnaveer Precision: Announced plans to raise ₹330 crore through a rights issue of equity shares.

📍 MERGER & DEMERGER

• Vedanta: The four demerged entities (Aluminium, Oil & Gas, Power, and Iron & Steel) are scheduled to officially list on the stock exchanges this coming Monday, June 15.
• Maithan Alloys: The NCLT has formally approved the merger of its subsidiaries, Impex Metal and Ierro Alloys, into the parent company.
• Indo Thai Securities: The NCLT Indore bench has directed the company to convene a meeting of shareholders to consider the proposed demerger with ITFSL.

📍 BUSINESS OPERATIONS

• Electronics Mart: Commenced commercial operations at a new 'Bajaj Electronics' store in Andhra Pradesh.
• Hindustan Oil Exploration: Temporarily halted gas sales from the B-80 field to conduct essential asset integrity maintenance.
• NLC India: The government reduced its stake in the company to 69.47% following a successful 2.7% stake sale via Offer for Sale (OFS).

📍 CORPORATE ACTION

• City Union Bank: Trading ex-bonus today for its 1:3 bonus issue.
• Ex-Dividend Today: Several major companies are trading ex-dividend, including Tata Steel (₹4), Adani Ports (₹7.50), Adani Enterprises (₹1.30), Canara Bank (₹4.20), Voltas (₹4), and PNB (₹3).

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