Advanced Enzyme coming with an IPO to raise around Rs 412 crore

Advanced Enzyme Technologies is coming out with a 100% book building; initial public offering (IPO) of 46,02,651 shares of Rs 10 each in a price band Rs 880-896 per equity share. The issue will open for subscription on July 20, 2016 and will close on July 22, 2016.

The company will use the issue proceed for investment in Advanced Enzymes USA, wholly owned subsidiary of the company for repayment / pre-payment of certain loans availed by Advanced Enzymes USA and general corporate purposes.

The book running lead managers to the issue are ICICI Securities and Axis Capital, while the compliance officer for the issue is Prabal Bordiya.

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