Advanced Enzyme has entered into a definitive agreement to acquire a controlling 80% stake in Malaysian firm Palm Techno Ventures Enzyme Sdn Bhd. The acquisition is expected to be completed by end of June 2017, following which PTVE would become a subsidiary of the company. Palm Techno Ventures distributes enzyme based solutions for the extraction of palm oil from palm fruits. 

This is the second acquisition for Advanced Enzymes in recent months, after its purchase of a 70% stake in JC Biotech for Rs. 50 crore. AdvEnzyme's share price has been trending below its 200 day SMA.