Advanced Enzyme gains on acquiring 51% stake in SSPL
Advanced Enzyme Technologies rose 1.63% to Rs 330.40 after the company said its board on 26 December 2020 approved investments of Rs 31.62 crore in SciTech Specialties for a 51% stake.Advanced Enzyme will subscribe 4,92,630 equity shares of SciTech Specialties (SSPL) via preferential issue and purchase 27,778 from selling shareholders of SSPL, aggregating to 5,20,408 shares. SSPL is a contract manufacturing company with niche technology specialising in effervescent granules and tablets. It is focused on animal health, pharma and nutraceutical. SSPL has two manufacturing facilities for nutrace...
Source: business-standard.com