Advanced Enzyme Tech surges 2% after acquiring additional stake of 15% in JC Biotech

The company has increased its shareholding in the subsidiary from 70% to 85%, post this acquisition.

Aug 20, 2021 10:08 IST India Infoline News Service

Advanced Enzymes
Advanced Enzyme Technologies Limited has completed the acquisition of an additional stake of 15% in JC Biotech Private Limited, subsidiary (JCB) by way of purchase of 31,06,680 Equity Shares from few selling shareholders of JCB, for consideration of Rs211.25 Million i.e. Rs. 68 per Equity Share, the company said in a filing on Wednesday.

After this acquisition, the shareholding of the company in JCB has increased from 70% to 85% of the paid-up share capital of JCB.

Meanwhile, in another filing on Thursday the company said that it received the ratings outstanding for debt instruments/facilities of the Company, by CRISIL Limited. The credit rating agency has reaffirmed long-term rating and short-term rating on total Rs100cr bank facilities at CRISIL A+/Stable and CRISIL A1, respectively.

At around 10.49 AM, Advanced Enzyme Technologies Ltd was trading at Rs383.70 per piece up by Rs6.45 or 1.71% from its previous closing of Rs377.25 per piece on the BSE.

Related Story

Open Free Demat Account (Rs699)