Friday, July 15, 2016

Advanced Enzyme 412 Cr IPO to open on Jul 20

Advanced Enzyme Technologies Ltd is entering in the capital markets with an initial public offering (IPO) to carry out the sale of up to 4,034,470 equity shares by the selling shareholder. In addition, company is raise Rs 50.00 Cr through a fresh issue to invest in Advanced Enzymes USA, the wholly owned subsidiary for repayment / pre-payment of certain loans availed by Advanced Enzymes USA. The price band for the issue has been fixed at Rs 880 at lower level and Rs 896 at upper level.

Incorporated in 1989, Advanced Enzyme Technologies Ltd is an India based company engaged in research, development, manufacturing and marketing of Healthcare, Nutrition and Bio-Processing products.

The issue opens on Jul 20, 2016 and closes for subscription on Jul 22, 2016. The equity shares of the issue are proposed to be list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).