Avendus Finance Pvt. Ltd, the credit solutions arm of investment banking firm Avendus Capital, said in a statement that it has provided structured debt worth Rs 108 crore (around $16 million) to the promoters of enzyme manufacturer Advanced Enzyme Technologies Ltd.
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.
Avendus Finance, a subsidiary of Avendus Capital, was set up in November 2016.
The non-banking finance company specialises in providing customised structured credit solutions to Indian entrepreneurs and businesses.
Last week, Avendus Finance had provided structured debt of Rs 25 crore to Mumbai-based supply chain solutions provider LEAP India.
In March, Avendus Finance along with Avendus Structured Credit Fund backed marketing services firm Ad2Pro with Rs 63 crore ($9.7 million) in structured debt.
In January, it provided structured credit worth Rs 55 crore ($8.6 million) to educational coaching services provider Rao Edusolutions Pvt. Ltd, which operates under the brand name Rao IIT Academy.