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Last Updated : Aug 01, 2016 04:51 PM IST | Source: Moneycontrol.com

Advanced Enzyme Tech ends at Rs 1178, up 31% over issue price

The issue was priced at Rs 880-896 per share, which raised over Rs 411 crore through its initial public offering. Retail investors category was oversubscribed 11.6 times.

 
 
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Moneycontrol Bureau

Shares of Advanced Enzyme Technologies ended at Rs 1178.10, 31 percent higher over its issue price of Rs 896 per share. The stock had debuted at Rs 1210 per share giving 35 percent premium over its issue price. On the NSE, it touched intraday high of Rs 1244 per share and low of Rs 1168.


The issue was priced at Rs 880-896 per share, which raised over Rs 411 crore through its initial public offering. Retail investors category was oversubscribed 11.6 times.


The company manufactures enzymes using all four natural origins plant, animal, bacterial and fungal. It operates through two business verticals healthcare and nutrition (88 percent of sales; human and animal nutrition) and bio-processing (12 percent of sales; food processing and non-food processing).

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It offers products to its global clientele of over 700 customers spanning across 50 countries. The company has a portfolio of 400 proprietary products developed from 60 indigenous enzymes. Globally, it ranks among the top 15 companies in sales rankings.

In the domestic market, it is second only to global leader Novozymes. Competitors include players like Biocon, Novozymes (Denmark), DSM Nutritional Products,DuPont Danisco, Amano Enzymes (Japan), AB Enzymes (UK) and BASF.

First Published on Aug 1, 2016 04:34 pm
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