Advanced Enzyme Technologies shares made blockbuster debut on Monday, with shares in the company rising 39 per cent in early trade. Thane-based Advanced Enzyme Technologies had raised around Rs 410 crore through its initial public offering (IPO) last month.
Advanced Enzyme Technologies' IPO was a major hit among investors and was subscribed 116 times in a price band of Rs 880-896 per share. The IPO saw strong participation from retail investors too, with their category being subscribed 11.6 times.
Advanced Enzyme Technologies' IPO comprised fresh issue of shares worth Rs 50 crore, while the remaining amount was raised under an 'offer for sale' by the promoter group.
Advanced Enzyme Technologies is the largest domestic enzyme company engaged in research, development, manufacturing and marketing of over 400 proprietary products developed from 60 indigenous enzymes.
Advanced Enzyme Technologies shares closed 31.5 per cent higher at Rs 1,178.10 against its issue price of Rs 896.
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