Live: Sensex, Nifty Up 1%; Chemcon Lists At Premium Of Over 100%

The specialty chemical company had a strong debut on the bourses, with shares more than doubling at the start of trade.

Shares listed at Rs 730, a premium of 115% to its issue price of Rs 340. Shares rose to as high as Rs 743.8, before cooling off.

This specialty chemical maker's Rs 318-crore IPO was subscribed 149 times on the final day of bidding on Sept. 23.

Chemcon sold 93.5 lakh shares through the offer at Rs 338-340 apiece. It had raised Rs 95.44 crore from anchor investors ahead of its IPO.

Silver Lake announced on Wednesday night that it will invest an additional sum of Rs 1,875 crore in Reliance Retail Ventures.

Silver Lake will now hold 2.13% stake in RRVL on a fully-diluted basis with a combined investment of Rs 9,375 crore, the company said in an exchange filing.

This comes just a few hours after General Atlantic announced its investment in the retail venture.

Shares are currently flat after gaining as much as 1.3% to Rs 2,264.

India continues to lift restrictions despite adding new Covid-19 cases at the fastest pace in the world.

Cinema, theatres and multiplexes will be permitted to open with up to 50% of their seating capacity, the Ministry of Home Affairs said in a statement on Wednesday. Standard Operating Procedures will be issued separately by the Ministry of Information & Broadcasting.

States and Union Territories have been given flexibility to decide on these openings.

Stock Reactions:

• PVR: Shares gained as much as 15% - the most in four months to Rs 1,395.1 - the highest level in a month.
• Inox Leisure: Shares gained as much as 17.6% - the most since August 2011 to a seven-month high of Rs 318.2.
• Chalet Hotels: Shares gained as much as 4.8% to Rs 145.
• Taj GVK Hotels: Shares gained as much as 7.5% to Rs 154.55 and are trading at the highest level in a month.
• Lemon Tree: Shares gained as much as 4.8% to Rs 29.25.