Advanced Enzyme IPO subscribed nearly 40%

First day of Advanced Enzyme Tech’s IPO (initial public offering) saw investors subscribing for 12.16 lakh shares out of the total 32.24 lakh on offer. 

In qualified institutional buyers (QIBs) category, 2.68 lakh shares were subscribed out of 9.18 lakh on offer. NSE data showed that retail investors have already bid for 9.03 lakh shares, or 56% of their allocated quota of 16.02 lakh shares. 

Around 25,188 shares were kept reserved for employees by the company. However, only 80 shares were bid in first session compared to the offer.

This would be the eighth IPO of the current fiscal year.