The stock debuted at Rs 1,210, a premium of 35.04% over the initial public offer (IPO) price. So far the stock hit a high of Rs 1,242.75 and low of Rs 1,200. On BSE, so far 6.24 lakh shares changed hands in the counter.

Advanced Enzyme Technologies (AETL) had priced its IPO at Rs 896 per share -- the top end of the Rs 880-896 per share price band for the IPO. The IPO had received a strong response from investors and the issue was heavily oversubscribed. The IPO of AETL was a combination of a fresh issue of shares and offer from promoter group selling shareholders, investor group selling shareholders and other selling shareholders.

AETL is the largest Indian enzyme company engaged in the research & development, manufacturing and marketing of more than 400 proprietary enzyme products developed from 60 indigenous enzymes. AETL 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. AETL is an integrated company with presence across the enzyme value chain, covering the entire range of activities from research & development, commercial-scale manufacturing, to marketing of enzyme products and customized enzyme solutions which enables AETL to be cost effective and competitive.

From the proceeds of the fresh issue, AETL has earmarked Rs 40 crore for investment in Advanced Enzymes USA, a wholly owned subsidiary of the company, for repayment of certain loans availed by Advanced Enzymes USA. The rest Rs 10 crore is for general corporate purpose.

After three years of sluggish performance, AETL posted strong growth in the year ended 31 March 2016 (FY 2016). Consolidated net profit rose 57% to Rs 78.44 crore on 32% growth in net sales to Rs 293.76 crore in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015).