Advanced Enzyme Technologies board approves additional 15% stake acquisition in JC Biotech

JCB is engaged in the business of manufacturing and sales of Bio Pharmaceuticals through the process of aerobic fermentation.

May 31, 2021 10:05 IST India Infoline News Service

Advanced Enzymes
Advanced Enzyme Technologies Ltd has annnounced that the Board of Directors has approved the acquisition of additional stake of 15% of Equity Share capital of JC Biotech Private Limited (70% subsidiary of the Company).

The consideration amount is Rs211.25 Million i.e. Rs68 per share. 

Effective from 1st December, 2016, JCB became subsidiary of the Company upon acquisition of 70% stake in JCB by the Company. With the additional acquisition of 15%, the shareholding of the Company in JCB will increase to 85%.

JCB is engaged in the business of manufacturing and sales of Bio Pharmaceuticals through the process of aerobic fermentation.

At around 10:03 AM, Advanced Enzyme Technologies was trading at Rs436.60 apiece down by Rs21.35 or 4.66% from its previous closing of Rs457.95 apiece on the BSE.

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