Advanced Enzyme raises Rs 122.85 crore from anchor investors

MUMBAI: Ahead of the opening of its initial public offering on Wednesday, Advanced Enzyme Technologies raised Rs 122.85 crore by allotting 13.71 lakh shares to 15 anchor investors at the higher end of its issue price band of Rs 880-896 per share.

DB International (Asia) was the highest bidder among anchor investors, picking up 20.23% of the portion reserved. Other anchor investors include Kuwait Investment Authority, DSP Blackrock, HDFC Trustee Co, ICICI Prudential Midcap Fund, Reliance Capital Trustee Co, Birla Sunlife Trustee Co and SBI Life Insurance.

The IPO comprises a fresh issue of equity shares worth Rs 50 crore and an offer for sale up to 40.34 lakh shares by promoter group shareholders, Kotak Employees Investment Trust, Kotak India Venture Fund I and Kotak India Venture (Offshore) Fund. ICICI Securities and Axis Capital are the lead managers to the issue.