🇮🇳 India Daybook: Garuda Construction Bags ₹1,800 Cr Saudi Order, Asian Paints Names Leo Puri Next Chairman

📍 ORDER WINS & CONTRACTS

• Garuda Construction & Engineering: Secured a major ₹1,800 crore engineering, procurement, and construction (EPC) contract in Saudi Arabia, providing a substantial boost to the company’s overseas order book.

📍 MANAGEMENT & LEADERSHIP CHANGES

• Asian Paints: Announced the appointment of Leo Puri as an additional and independent director, designated to succeed R Seshasayee as the company's next Chairman.

📍 CORPORATE CLARIFICATIONS & GOVERNANCE

• PVR Inox: Clarified that a preliminary internal examination into alleged ₹200 crore kickbacks revealed no evidence of bribery or wrongdoing, further stating that it has not asked its Chief Executive Officer to step down.

📍 CAPITAL RAISING & DEBT ISSUANCES

• REC Ltd: Successfully raised ₹500 crore through India’s first pilot issuance of tokenised corporate bonds under SEBI’s Regulatory Sandbox Framework. The issue was oversubscribed nearly eight times and introduced same-day atomic Delivery-versus-Payment (DvP) settlement.

📍 BULK & BLOCK DEALS

• Novartis India: 360 One Group CEO acquired approximately 1.3 lakh shares of the company through an open market transaction valued at roughly ₹22 crore.

📍 PRIMARY MARKET / IPO WATCH

• Glass Wall Systems (India): Launches its ₹427.89 crore initial public offering today in a price band of ₹172 to ₹182 per share.
• Kanohar Electricals & Prasol Chemicals: Mainboard public offerings open today with issue sizes of ₹1,055.74 crore and ₹500 crore, respectively.

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