By Dominic Rebello. Photograph By Azad Shrivastav
Plans to raise Rs 412 crore
Ajay Saraf, ICICI Securities, Piyush Rathi, CMO, Advanced Enzyme Technologies Ltd., C L Rathi, MD, AETL, V L Rathi, ED, AETL, Beni Rauka, CFO, AETL and Amit Jain, Axis Capital at the IPO press conference yesterday.
Advanced Enzyme Technologies plans to hit the markets with its initial public offer (IPO) to raise Rs. 412 crore. The offer opens on July 20 and closes on July 22. The company has fixed the price band between Rs 880-Rs 896. The company is engaged in research, development, manufacturing and marketing of Healthcare, Nutrition and Bio-Processing products.
The company is selling equity shares with face value of Rs 10 each at a price of Rs 880-896 aggregating to Rs 50 crore and an offer for sale by promoter group shareholders, along with Kotak Employees Investment Trust, Kotak India Venture Fund I and Kotak India Venture (Offshore) Fund.
The company is the largest domestic enzyme company, engaged in research, development, manufacture and marketing of over 400 proprietary products developed from 60 indigenous enzymes. The company has diversified global operations with strong US focus and has been a dividend paying company since 1999.
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, Advanced Enzyme's MD Chandrakant L Rathi said. It operates in two primary business verticals namely healthcare and nutrition (human and animal) and bio-processing (food and non-food). It offers products to its global clientele of over 700 customers spanning across 50 countries, Rathi said.
Global growth is estimated to be led by speciality enzymes while industrial enzymes are expected to see moderate growth. North America dominates the global enzyme market. The domestic enzyme market is expected to grow from USD 105 million in 2015 to USD 279 million in 2020. The company aims to replace traditionally used chemicals with eco-friendly enzymatic solutions, Rathi added.
Explaining about Enzymes, Piyush Rathi, Director and CMO, Advanced Enzyme said, “We need enzymes in our body for everything, from lifting a hand to blinking an eye-lid. Every enzyme is protein, but all protein is not enzyme. Our body needs different enzymes for different purposes, he said.
The company produces over 400 proprietary products developed from 60 enzymes. Advanced Enzyme operate in two primary business verticals namely Healthcare & Nutrition and Bio-Processing. The company has 13 patents registered in its name and applications for registration of 4 patents are pending.