Advanced Enzyme debuts on equity markets at 35% premium; shares up 2%

The country's largest Enzyme company, Advanced Enzyme Tech listed its equity shares on exchanges on Monday. 

The shares of the company today opened at 35% premium at Rs 1210, as against the issue price of Rs 896 per share.

At 1100 hours the shares of the company were trading at Rs 1236.60, up 2.20% or Rs 26.60 per piece. During the early trading session, the shares touched a high at Rs 1242.75 and low at Rs 1200.

"Trading Members of the Exchange are hereby informed that effective from August 01, 2016, the Equity shares of Advanced Enzyme Technologies Ltd (Scrip Code: 540025) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities", the company said in a regulatory filing.

The three day of IPO which ended on July 22 got an overwhelming response with the issue getting subscribed 116 times. 0.32 crore shares which were offered received 37.52 crore bids, NSE data showed.

The company opened its initial public offering on July 20 for 0.46 crore equity shares of face value of Rs 10 each with an issue size of Rs 405.03 crore to Rs 411.49 crore.

The first day of its IPO saw investors subscribing for 12.16 lakh shares out of the total 32.24 lakh on offer, which was nearly 40% oversubscribed.