Advanced Enzyme Technologies has received an approval for investment in Advanced Biodiesel (ABL) by acquiring / subscribing, in one or more tranches, up to 15% of paid up share capital of ABL for an amount not exceeding Rs 3.75 crore. This investment by the company in ABL will be made in a phased manner and will be completed in a period of 18 months. The board of directors at its meeting held on April 22, 2017, has approved for the same.
The board also approved for investment by way of subscription / purchase of shares of Palm Techno Ventures Enzyme (PTVE), Malaysia up to RM 200,000 (i.e. in Malaysia Currency) (up to 80% of the paid up share capital of PTVE and the remaining 20% shall be held by its existing shareholders based in Malaysia). The said investment is expected to be completed by end of June 2017. Upon such investment PTVE shall become subsidiary of the company.
Advanced Enzyme Technologies is an India based company engaged in research, development, manufacturing and marketing of Healthcare, Nutrition and Bio-Processing products.