 "Advanced Enzyme subscribed 75% on Day One")
The Rs 412-crore initial public offering (IPO) of Advanced Enzyme Technologies garnered 75 per cent subscription on Wednesday, the first day of the issue. The retail portion has already been fully subscribed, while institutional and high networth individual (HNI) segments were subscribed over 40 per cent and 10 per cent respectively, as per provisional data provided by stock exchanges.
The company on Tuesday raised Rs 123 crore from 15 anchor investors, which included DB International, Kuwait Investment Authority and DSP Blackrock Equity.
The price band for the IPO is Rs 880-Rs 896 per share. Around Rs 362 crore of the issue is offer for sale (OFS) from existing investors, while Rs 50 crore is fresh capital raising. The IPO is being handled by ICICI Securities and Axis Capital.
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