Advanced Enzyme Technologies Limited’s Board of Directors has approved an equity share buyback program, authorizing the repurchase of up to 10% of its paid-up capital and free reserves. The maximum buyback size is set at ₹697,000,000 (approximately ₹69.7 crore), with a maximum price of ₹500 per share. This move is expected to enhance shareholder value and optimize the company’s capital structure.
Board Approves Significant Buyback Program
Advanced Enzyme Technologies Limited has announced that its Board of Directors, in a meeting held on August 8, 2026, has approved an equity share buyback program. This decision aligns with the provisions of the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018.
Key Buyback Details
The buyback will involve the repurchase of the company’s fully paid-up equity shares, with a face value of ₹2 each. The program is authorized to acquire shares at a maximum price not exceeding ₹500 per Equity Share. The aggregate amount of the buyback is capped at ₹697,000,000 (Rupees Six Hundred Ninety Seven Million only). This represents approximately 9.99% of the company’s total paid-up equity share capital and free reserves, based on audited standalone financial statements as of March 31, 2026.
Program Objectives and Rationale
The buyback aims to return surplus cash to shareholders and enhance shareholder value. The maximum buyback price reflects a premium over the volume-weighted average market prices of the equity shares over various preceding periods, including three months, two weeks, and one month prior to the board meeting’s intimation date. The company has confirmed that it has earmarked adequate resources for the buyback and will utilize its securities premium account, free reserves, or other permitted sources, excluding borrowed funds.
Implementation and Regulations
The buyback will be executed through the open market route via the stock exchanges, specifically BSE Limited and National Stock Exchange of India Limited. The company has appointed Emkay Global Financial Services Limited as the Merchant Banker and Broker for the transaction. The buyback offer is expected to open within four working days from the date of the public announcement and will close within sixty-six working days or upon deployment of the maximum buyback size. The resolution also details compliance with statutory limits and requirements, including ensuring minimum public shareholding norms post-buyback.
Financial Health and Future Prospects
The Board has confirmed its opinion that the company will be able to meet its debts and liabilities in the foreseeable future, considering its financial position and prospects. The company will not issue the same kind of shares within six months after the completion of the buyback, except through bonus issues or conversion of certain securities.
Key Appointments
Mr. Sanjay Basantani, Company Secretary and Head – Legal, has been nominated as the Compliance Officer. MUFG Intime India Private Limited has been appointed as the Registrar for the buyback. A Buyback Committee has also been constituted to oversee the implementation of the buyback program.
Source: BSE
