🇮🇳 India Daybook: LIC Retail OFS Opens, RailTel Bags Major Order

📍 STAKE SALE

• LIC: The Government of India’s Offer for Sale (OFS) for a 5% stake in the insurance behemoth opens for retail investors today, June 17. The move is aimed at meeting fiscal targets and increasing the stock's free float.
• GIC (General Insurance Corporation): The retail portion of the government's 5% stake sale via OFS is also active today, following the institutional bidding phase on June 16.

📍 ORDER WIN

• RailTel: The company has secured a significant order for the supply and implementation of a munitions-related project, further strengthening its order book in the defense and infrastructure segment.
• Leapfrog Engineering Services: Ahead of its listing, the company reported a robust order book exceeding ₹384 crore, with a significant portion allocated to export projects in Kuwait.

📍 IPO

• Clay Craft India: The ₹110.11 crore SME IPO opens for subscription today on the NSE SME platform. The company plans to use the proceeds to establish a new manufacturing facility in Rajasthan.
• Leapfrog Engineering Services: The company's ₹88.51 crore IPO also opens for subscription today, June 17, on the BSE SME platform.

📍 ACQUISITION

• Anupam Rasayan: The specialty chemicals maker is set to acquire a 43.3% stake in Bliss GVS Pharma for approximately ₹1,369 crore.
• Zydus Lifesciences: The company has announced the acquisition of US-based specialty oncology firm Assertio Holdings for $166.4 million to bolster its presence in the US market.

📍 USFDA APPROVAL

• Alembic Pharmaceuticals: The company received tentative approval for generic Darolutamide tablets (used for prostate cancer) and final approval for generic levothyroxine sodium tablets.
• Wockhardt: Shares remain in focus following the recent landmark approval for its novel antibiotic, Zaynich, aimed at treating drug-resistant infections.

📍 CORPORATE ACTION

• Brigade Enterprises: Today, June 17, is the record date for the company's 1:3 bonus issue.
• Cyient: The stock will trade ex-date today for its proposed share buyback program.
• Bandhan Bank: The board has approved the sale of a significant NPA portfolio to an Asset Reconstruction Company (ARC) to clean up its balance sheet.

📍 MOU & PARTNERSHIPS

• Infosys: Collaborating with Valmet to transform IT operations using AI-accelerated technologies to improve business agility.
• Wipro: Launched its "Applied AI Center of Excellence" for Claude models in Bengaluru, in partnership with Anthropic.
• Oil India: Signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research (CSIR) to boost research and innovation in the energy sector.

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