🇮🇳 India Daybook: IRFC Stake Sale Begins, Bajaj Auto Buyback Record Date

📍 OFFER FOR SALE

• IRFC: The Government of India’s Offer for Sale (OFS) to divest up to a 2% stake (approximately 26.1 crore shares) commences today for non-retail investors. The floor price has been fixed at ₹91 per share, a calibrated move relative to recent market prices. Retail investors will be able to bid on Thursday.

📍 BUYBACK

• Bajaj Auto: June 24 is the crucial record date for the company’s ₹5,633 crore buyback program. The tender offer is priced at ₹12,000 per share, representing a significant premium over current market levels to repurchase up to 46.94 lakh equity shares.

📍 ACQUISITION

• Honasa Consumer: The parent company of Mamaearth has received board approval to acquire a 58% majority stake in Fluence Pharma for an enterprise value of ₹135 crore. The company intends to absorb the remaining 42% stake over the next 5–7 years as part of its health and pharma expansion.

📍 OPERATIONAL MILESTONE

• HPCL: The mega HPCL Rajasthan Refinery has officially declared its Commercial Operation Date (COD). This hyper-scale project is expected to significantly boost margins through the production of high-value petroleum derivatives.
• Birla Corporation: The company’s latest mining project has officially entered its commercial phase, which is expected to streamline raw material supply and improve cost efficiencies.

📍 PARTNERSHIP

• Hindustan Zinc: The company has announced a strategic partnership with Advantek Aero to collaborate on advanced infrastructure solutions and technological integration.

📍 CORPORATE ACTIONS

• Kotyark Industries: The stock will reflect a 10:1 bonus issue today.
• Tata Steel: The trading window for dealing in the company's securities is officially closed starting today, June 24, ahead of the Q1FY27 financial results.
• Dividends: Wheels India (₹9.14/share) and Shankara Buildpro (₹5.00/share) mark their dividend-related proceedings today.

📍 AGMs & BOARD MEETINGS

• Annual General Meetings: Key Nifty entities including Adani Ports, Adani Enterprises, and HDFC AMC are holding their AGMs today.
• Equitas Small Finance Bank: The board is scheduled to meet today to consider various fund-raising options.
• OnMobile Global: A board meeting is convened for today to deliberate on potential fund-raising proposals.

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