Advanced Enzyme Technologies IPO which hit Dalal Street on Wednesday oversubscribed by 115.74 times on the last day of offer. The Rs 411.50-crore public offer has received bids for 37.43 crore shares so far against 32.34 lakh shares offered by the company. The company has fixed price band Rs 880-896 per share for the initial public offer, which will close on July 22.
Bids can be made for a minimum of 16 equity shares and in multiples of 16 shares thereafter. Advanced Enzyme on Tuesday gathered around Rs 123 crore from 15 anchor investors. ICICI Securities and Axis Capital are the lead managers to the issue. It is the largest domestic enzyme firm engaged in manufacturing, marketing, development and research of over 400 proprietary products developed from 60 indigenous enzymes.
Brokerage firms like Reliance Securities, Choice Broking, GEPL Capital and HEM Securities are bullish on the ongoing public offer. Read more