The offer comprises a net offer to the public of equity shares and reservation of equity shares aggregating upto Rs.2 crore for subscription by eligible employees not exceeding 5% of the post-offer paid-up equity shares capital. A discount of Rs.86 per equity share on the offer price is applicable to all eligible employees.
The Offer will close on July 22, 2016. Bids can be made for a minimum of 16 equity shares and in multiples of 16 equity shares thereafter. The company, in consultation with the selling shareholders and the BRLMs, may consider participation by anchor investors. The anchor investor shall bid on the anchor investor bidding date; i.e. one working day prior to the bid / offer opening date.
The BRLMs to the offer are ICICI Securities Limited and Axis Capital Limited.
The equity shares offered through the offer are proposed to be listed on BSE and NSE.
The offer is being made through the book building process in compliance with Regulation 26(1) of Sebi Regulations, 2009, as amended, wherein 50% of the offer shall be allocated on a proportionate basis to qualified institutional buyers (QIBs), provided that the company, in consultation with the selling shareholders and BRLMs may allocate upto 60% of the QIB portion to anchor investors on a discretionary basis, out of which atleast one-third shall be reserved for domestic mutual funds only, subject to valid bids being received from domestic MFs at or above the anchor investor offer price. Further, 5% of the QIB portion (excluding the anchor investor portion) shall be available for allocation on a proportionate basis to MFs only, and the remainder of the QIB portion shall be available for allocation on a proportionate basis to all QIB bidders (other than Anchor Investors), including MFs, subject to valid Bids being received at or above the offer price.
Further, not less than 15% of the offer shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 35% of the offer shall be available for allocation to retail individual bidders, subject to valid bids being received at or above the offer price. All potential bidders, other than anchor investors, are mandatorily required to participate in this offer through an application supported by blocked amount (ASBA) process providing details of their respective bank accounts which will be blocked by the Self Certified Syndicate Banks (SCSBs). Anchor investors are not permitted to participate in this offer through the ASBA process.
The Company is the largest Indian enzyme company, engaged in the research and development, manufacturing and marketing of 400+ proprietary products developed from 60 indigenous enzymes. Having more than two decades of fermentation experience in the production of enzymes, it ranks among the top 15 global companies in terms of enzyme sales and has the second highest market share domestically, next only to the world’s largest enzyme company Novozymes. It operates in two primary business verticals namely Healthcare & Nutrition (human and animal) and Bio-Processing (food and non-food). It offers products to its global clientele of more than 700 customers spanning presence across 50 countries worldwide.