Advanced Enzyme Technologies to list shares on August 1

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26 Aug, 2025 12:21

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Moneycontrol Bureau

India's largest Enzyme producer Advanced Enzyme Technologies will list its equity shares on exchanges on August 1, 2016. It has fixed issue price at higher end of price band of Rs 880-896 per share.

After an overwhelming response from investors to the issue that oversubscribed nearly 116 times, shares are expected to debut with hefty premium over its issue price as currently the grey market premium is more than Rs 300, say dealers.

"Effective from Monday, August 01, 2016, the equity shares of Advanced Enzyme Technologies shall be listed and admitted to dealings on the exchange in the list of B group of securities," the exchange said.

The company raised Rs 411 crore through the issue, including Rs 122.85 crore from 15 anchor investors like DB International, Kuwait Investment Authority Fund, DSP Blackrock Equity Fund, HDFC Trustee Co, ICICI Pru Midcap Fund, Birla Sun Life Emerging Leaders Fund etc.

The issue comprised of fresh issue of shares worth Rs 50 crore and offer for sale of Rs 361 crore by promoters and Kotak PE. Promoter holding reduced to 66.51 percent from 80.53 percent and Kotak PE holding to 2.32 percent from 4.75 percent.

The company will use fresh issue proceeds to repay Rs 40 crore of debt in US subsidiary's books.

Advanced Enzyme is engaged in the research and development, manufacturing and marketing of more than 400 proprietary products developed from 60 indigenous enzymes. It has four 53 R&D facilities, of which two are located at Thane, and one each at Sinnar and Chino, California.

US is an important focus market for the company which contributes to a major portion of international revenue, nearly 55 percent of total revenue while India 36 percent.

ICICI Securities and Axis Capital were the lead managers of the issue.