Advanced Enzyme Technologies completed an initial public offering of 4.59 million equity shares at ?10 each for cash at a price of ?896 per share generating ?4.1 billion (US$61.6 million). The offering comprised a fresh issue of 560,405 equity shares worth ?502 million and an offer for sale of 4.03 million shares by certain existing shareholders of the company, worth ?3.61 billion. The offer was 115 times oversubscribed.
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