Advanced Enzymes shines on getting nod to invest Rs 316.26 million in SciTech Specialties

28 Dec 2020 Evaluate

Advanced Enzyme Technologies is currently trading at Rs. 332.90, up by 7.80 points or 2.40% from its previous closing of Rs. 325.10 on the BSE.

The scrip opened at Rs. 336.90 and has touched a high and low of Rs. 339.10 and Rs. 330.55 respectively. So far 2732 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 384.75 on 08-Oct-2020 and a 52 week low of Rs. 91.05 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 343.00 and Rs. 299.15 respectively. The current market cap of the company is Rs. 3632.14 crore.

The promoters holding in the company stood at 55.45%, while Institutions and Non-Institutions held 22.33% and 22.23% respectively.

Advanced Enzymes Technologies’ board has approved the investment of an amount not exceeding Rs 316.26 million by way of subscription to the issue of 492,630 equity shares of SciTech Specialties (SSPL), as may be offered on preferential issue / private placement basis by SSPL and purchase of 27,778 from selling shareholders of SSPL, aggregating to 520,408 equity shares i.e. 51% of equity share capital of SSPL and authorization for signing of Share Subscription and Shareholders' Agreement in this regard. On completion of the aforesaid investment, SSPL will become subsidiary of the company. The Board of Directors of the company in its meeting held on December 26, 2020 has approved the same.

Advanced Enzymes Technologies is a research driven company with global leadership in manufacturing of enzymes and probiotics. It is the largest Indian enzyme company engaged in the research and development, manufacturing and marketing of vast proprietary products developed from many indigenous enzymes & probiotics.

Advanced Enzyme Share Price

372.85 -8.55 (-2.24%)
17-May-2024 16:01 View Price Chart
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