 "Advanced Enzyme Technologies makes strong listing")
Advanced Enzyme Technologies listed at Rs 1,210, a 35% premium against its issue price of Rs 896 per share on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). LINK
At 10:04 am, the stock was trading at Rs 1,228 after hitting high of Rs 1,235 in intra-day trade post listing. It hit high of Rs 1,235 so far. About 1.98 million shares were traded on both the stock exchanges.
The Rs 412-crore initial public offering (IPO) of Advanced Enzyme Technologies got an overwhelming response with the issue getting subscribed 116 times.
The 3.23-million share offering received 375 million bids, according to stock exchange data.
While the qualified institutional buyers category was subscribed 94 times, the retail (small investor) portion was subscribed nearly 12 times and the high net worth (wealthy) individual segment saw a whopping 393 times subscription.
The company had raised Rs 123 crore from anchor investors. Around Rs 362 crore of the issue was an Offer for Sale from existing investors, while Rs 50 crore was an issue of new shares.
The company is engaged in research & development, manufacturing and marketing of 400-plus proprietary products, developed from 60 indigenous enzymes.
Through the IPO, it is also looking at the inorganic route to enter new product areas, enhance research expertise and grow its market share.
At 10:04 am, the stock was trading at Rs 1,228 after hitting high of Rs 1,235 in intra-day trade post listing. It hit high of Rs 1,235 so far. About 1.98 million shares were traded on both the stock exchanges.
The Rs 412-crore initial public offering (IPO) of Advanced Enzyme Technologies got an overwhelming response with the issue getting subscribed 116 times.
The 3.23-million share offering received 375 million bids, according to stock exchange data.
While the qualified institutional buyers category was subscribed 94 times, the retail (small investor) portion was subscribed nearly 12 times and the high net worth (wealthy) individual segment saw a whopping 393 times subscription.
The company had raised Rs 123 crore from anchor investors. Around Rs 362 crore of the issue was an Offer for Sale from existing investors, while Rs 50 crore was an issue of new shares.
The company is engaged in research & development, manufacturing and marketing of 400-plus proprietary products, developed from 60 indigenous enzymes.
Through the IPO, it is also looking at the inorganic route to enter new product areas, enhance research expertise and grow its market share.
