🇮🇳 India Daybook: HCL-Foxconn Break Ground on Chip Plant, Novartis India Promoters Exit

📍 ORDER WIN

• GHV Infra Projects: The company has received a Letter of Award (LOA) from Enmas EPC Power Projects (JV) for a new infrastructure project, boosting its current order book.

📍 ACQUISITION & STAKE SALE

• Novartis India: Swiss parent Novartis AG has agreed to sell its entire 70.68% stake to a consortium including ChrysCapital and WaveRise Investments. A mandatory open offer has been launched for public shareholders at ₹860.84 per share.
• Paras Defence: The company has successfully acquired a 49% stake in Himanshi Thermal Solutions, which will now operate as an associate company of Paras Defence and Space Technologies.
• TIL Ltd: The company is expanding into the clean energy sector following the board's approval to acquire a 60% stake in Tulip Compression Private Limited.

📍 FUNDRAISING

• TIL Ltd: The Board of Directors is scheduled to meet today, February 23, to evaluate various fundraising options, including a Rights Issue, QIP, or preferential allotment.
• 5paisa Capital: The company has scheduled a board meeting for February 24 to discuss and approve a proposal for raising capital through the issuance of equity shares.

📍 IPO WATCH

• Clean Max Enviro Energy Solutions: The company’s ₹3,100 crore initial public offering opens today for subscription with a price band set at ₹1,000–₹1,053 per share.
• Shree Ram Twistex: A fresh issue IPO worth ₹110.24 crore opens today for investors, with the price band fixed at ₹95–₹104.

📍 CORPORATE ACTION

• PI Industries: The board is expected to declare an interim dividend of ₹5 per share during its meeting today.
• NBCC India: The stock is set to trade ex-dividend this week as per previous corporate announcements.

📍 OTHERS

• HCL Group: In a joint venture with Hon Hai (Foxconn), the company has commenced the construction of a ₹13,100 crore semiconductor OSAT facility in Greater Noida, aiming for operations by 2028.
• Waaree Energies: The solar major is in focus following reports of plans to set up a new Gigafactory in partnership with a state government.
• Indian Bank: The stock continues to show strong technical momentum, reaching fresh record highs in February 2026.

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