MUMBAI, Aug 1: Advanced Enzyme Technologies today made a stellar debut on the stock exchanges and got listed at Rs 1,210, registering with a premium of 35 per cent over its issue price of Rs 896.
Following the listing, the stock surged even further and touched an early high of Rs 1,242.75 on the BSE, while on the National Stock Exchange, it hit a high of Rs 1,244 in early trade.
The company’s initial public offer was a major hit with investors and the firm had raised over Rs 411 crore through its IPO.
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.
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. (PTI)
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