Advanced Enzyme Technologies completes acquisition of Malaysian firm
DSIJ Intelligence / 03 Jul 2017
Advanced Enzyme Technologies has completed its acquisition of Palm Techno Ventures Enzymes Sdn Bhd, Malaysia.
Advanced Enzyme Technologies has completed its acquisition of Palm Techno Ventures Enzymes Sdn Bhd, Malaysia.
Advanced Enzyme Technologies Limited is engaged in business of manufacturing and sale of enzymes. The company's geographical segments include within India and outside India. It provides solutions to industries, such as human healthcare and nutrition, animal nutrition, baking, fruit and vegetable processing, brewing etc.
The acquisition has been done by way of investment of 2 lakh Malaysian Ringgit (approx. Rs 30,12,995) in 2 lakh ordinary shares of RM 1.00 each of Palm Techno Ventures Enzymes Sdn Bhd.
Palm Techno Ventures Enzymes Sdn Bhd on Monday has allotted the shares to the company and has in turn become its subsidiary.
Meanwhile, the stock traded in the positive territory gaining 1.97% at Rs 330.95 per share.
The stock on NSE has attracted a traded volume of 1,55,498 shares and a traded value of Rs 75.92 lakh.
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