Enzymes and probiotics manufacturer Advanced Enzyme Technologies (NSE:ADVENZYMES, BOM:540025) has received board approval to incorporate a wholly-owned subsidiary in the nutrition and wellness space, according to a Tuesday filing to the Indian stock exchanges.
The proposed new entity will be formed to carry on the business of sales and distribution of the parent company's range of products.
The company will subscribe to up to 50,000 equity shares at a face value of 10 rupees per equity share in the proposed arm.
Advanced Enzyme's shares were down nearly 3% in recent trade.
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