IRFC Stake Sale Undersubscribed on Day One as Pharma and Infra Updates Drive Stock Focus

Overview

• The government’s IRFC offer for sale saw 95% subscription on the first day and it will not use the oversubscription option, with the 2% stake offered at a floor price of ₹104 per share for the Feb 25–26 window.
• Lupin received US FDA approval for its brivaracetam oral solution (10 mg/mL) for partial-onset seizures, with the reference product recording about $135 million in annual US sales.
• The Maharashtra GST department initiated inspection and search proceedings at Lupin’s registered office, and the company said there is no impact on its financials or operations.
• Dr Reddy’s Laboratories said the US SEC has closed its investigation into alleged improper payments without recommending enforcement action.
• Project flow remained steady as HG Infra emerged lowest bidder for a ₹1,582 crore NHAI HAM road in Odisha, Waaree Energies won an LOA for a 300 MW wind project in Dwarka, and RVNL received a ₹270 crore LOA from Central Railway.