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Advanced Enzyme Technologies to list shares on August 1

Advanced Enzyme Technologies, IPO, stock market

New Delhi: Advanced Enzyme Technologies, which raised over Rs 411 crore through its initial public offering (IPO), will make its stock market debut on August 1. The IPO, which closed on July 22, was subscribed 116 times at a price band of Rs 880-896 per share.

"Effective from Monday, August 1, 2016, the equity shares of Advanced Enzyme Technologies Ltd shall be listed and admitted to dealings on the exchange in the list of 'B' Group of securities," BSE said in a circular.

The quota reserved for qualified institutional buyers (QIBs) was oversubscribed 94.03 times and that of non-institutional investors' 393.10 times. Retail investors category was oversubscribed 11.6 times.

The IPO comprised fresh issue of shares worth Rs 50 crore and an offer for sale (OFS) for up to 4,034,470 scrips by promoter group shareholders along with Kotak Employees Investment Trust, Kotak India Venture Fund I and Kotak India Venture (Offshore) Fund.

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

The company is the leading domestic enzyme firm engaged in research, development, manufacturing and marketing of over 400 proprietary products developed from 60 indigenous enzymes.

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