Advanced Enzyme promoters raise structured debt from Avendus

Avendus Finance Pvt. Ltd, the credit solutions arm of investment banking firm Avendus Capital has provided structured debt worth Rs 108 crore (around $16 million) to the promoters of enzyme manufacturer Advanced Enzyme Technologies Ltd, the company said in a statement.

Advanced Enzyme provides enzyme-based solutions for a variety of industries including pharmaceutical, nutraceutical, animal nutrition and food processing.

Its clients include pharmaceutical companies in India and several firms in the nutraceutical and human nutrition segment across the globe.

The company has seven manufacturing facilities across India and US. It has seven research and development centres spread across India, US, and Germany.

Advanced Enzyme’s consolidated revenue from operations stood at Rs 108.2 crore and its net profit was Rs 26.5 crore for the quarter ended December 31, 2017.

Last year, the firm acquired German industrial biotech company Evoxx Technologies GmbH for 7.65 million euros (Rs 57.4 crore) in cash.