Advance Enzyme Tech IPO: subscription opens today
DSIJ Intelligence / 20 Jul 2016
Yet another company IPO opens for subscription, and this time it is Advance Enzyme Tech. It is looking to raise around Rs.412 crore, including the anchor portion, through the share sale. The company has fixed a price band of Rs. 880 to 896 per share.
Yet another company IPO opens for subscription, and this time it is Advance Enzyme Tech. It is looking to raise around Rs.412 crore, including the anchor portion, through the share sale. The company has fixed a price band of Rs. 880 to 896 per share. The company IPO will open for subscription on July 20 and will close on July 22.
The company has allotted shares worth Rs.122.85 crore as part of the anchor book allotment ahead of its initial public offering (IPO). Shares were allotted to the anchor investors at the upper end of the price band of Rs 896 per share.
In the financial year 2015-16, the company has reported a revenue of Rs 294.6 crore, up from Rs 224.2 crore the previous year. In 2015-16, its profit stands at Rs 78.4 crore, up from Rs 50.1 crore in the previous financial year. Its revenue has grown at the rate of 14 per cent annually between FY 12 and FY 16 while its post-tax profit has grown by 24 per cent during the same period.
The IPO market has seen a significant momentum in the last few weeks. In 2016 around 13 companies have already raised money through IPOs. On July 1, Quess Corp IPO received a subscription of 144 times, L&T Infotech IPO also was oversubscribed 11 times. Advance Enzyme Tech IPO is also expected to be on similar lines as in the same segment the company does not have any listed competitor in India.
Advanced Enzyme is engaged in the manufacture, marketing, research and development of 400-plus proprietary products developed from enzymes.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.