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Advanced Enzyme's stock price shoots up after Nalanda India equity fund increases stake in the company

Advanced Enzyme Technologies' promoter, Advanced Vital Enzymes Private Limited, sold 2.57 million equity shares for Rs270.04 each

September 20, 2022 10:35 IST | India Infoline News Service
After Nalanda India Equity Fund expanded its interest in the business by about 3% on Tuesday, shares of Advanced Enzyme Technologies rose 13% to Rs298 on the National Stock Exchange (NSE).
Using a block deal, Nalanda India Equity Fund paid Rs78.62 crore for 2.91 million equity shares, or a 2.6% interest in Advanced Enzyme Technologies, on September 20, 2022, according to NSE records. A weighted average price of Rs270.03 per share was used by the foreign portfolio investor to purchase shares, according to statistics.

According to bulk deal data, Advanced Vital Enzymes Private Limited, the company behind Advanced Enzyme Technologies, sold 2.57 million equity shares for Rs270.04 each. According to ownership pattern data, Nalanda India Equity Fund Limited owned 6.96 million equity shares, or 6.23 %, in Advanced Enzyme Technologies as of June 30, 2022.

A global leader in the production of probiotics and enzymes, Advanced Enzyme Technologies is a research-driven organization. The business offers eco-safe solutions to a wide range of sectors, including human health care, animal nutrition, baking, fruit and vegetable processing, brewing and malting, grain processing, protein modification, dairy processing, specialty applications, textile processing, and others.
In comparison to the 1.2% increase in the Nifty50 index, the stock was up 11% at Rs297 at 09:32 AM. Up till the time, this report was written, 1.21 million equity shares had been traded on the NSE and BSE. Despite today's surge, the stock has lagged the market over the last three months, rising just 7% as opposed to the benchmark index's 16% rise. Its drop during the last year was 27%, compared to the Nifty 50's gain of 2%. The poor profits were the cause of the underperformance.
Nevertheless, Advanced Enzymes is certain that its current resources and financial commitments will be beneficial to growing its enzymes and probiotics company.

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