Top events today: PM Modi in Nalanda, Kejriwal’s bail plea hearing, 2 mainboard IPOs open for subscription, and more

Top events today: In a flurry of significant developments across India’s political, and financial landscapes, Prime Minister Narendra Modi is poised to inaugurate the new campus of Nalanda University in Bihar’s Rajgir this Wednesday. Meanwhile, in Delhi, Chief Minister Arvind Kejriwal’s legal proceedings continue amidst a high-profile money laundering case, while down south, Jana Sena Party president K. Pawan Kalyan gears up to assume the role of Deputy Chief Minister. Simultaneously, the stock market anticipates movements driven by dividend declarations from several major companies and the impending IPO launches of Dee Development Engineers and Akme Fintrade (India) Ltd.

PM Modi likely to inaugurate new campus of Nalanda University

Prime Minister Narendra Modi is likely to inaugurate the new campus of Nalanda University in Bihar’s Rajgir on Wednesday, PTI reported. External Affairs Minister S Jaishankar and ambassadors of 17 nations are expected to attend the event. The university’s new campus is close to the site of the ancient ruins of Nalanda.

Delhi court to hear CM Arvind Kejriwal’s bail plea on June 19 in excise policy case

A Delhi court, reported PTI, announced June 19 for the hearing of CM Arvind Kejriwal’s bail plea in the money laundering case related to the alleged excise scam. The case was adjourned by Additional Sessions Judge Mukesh Kumar after the Excise Department sought more time file a reply, reported PTI.

Kejriwal’s application seeking interim bail on medical grounds was dismissed on June 5 by a Delhi court.

Kejriwal’s judicial custody was also extended by the judge till June 19.

Pawan Kalyan will take charge as Andhra Pradesh Deputy Chief

Jana Sena Party president K. Pawan Kalyan will take charge as the Deputy Chief Minister and the Minister for Panchayat Raj and Rural Development, Environment, Forests, and Science and Technology on June 19, according to a release from the party.

When the stock market opens today, shares of LTIMindtree Ltd, Dalmia Bharat Ltd, Intellect Design Arena Ltd, Panasonic Carbon India Co. Ltd., and Sagar Cements Ltd will be in focus. The five companies’ boards of directors declared final dividends for their eligible shareholders.

The engineering company will open for subscription on Wednesday, June 19, and close on Friday, June 21. The price band for Dee Development’s IPO has been set between ₹193 and ₹203 per equity share, each with a face value of ₹10.

Akme Fintrade (India) Ltd is set to launch its ₹132 crore initial public offering (IPO) on D-Street next week, with the subscription period open from June 19 to June 21. The company has fixed a price band of ₹114-120 per share for the issue.