Eris Lifesciences plans to raise Rs 2,000 crore through IPO

Mumbai: Eris Lifesciences, ahmedabad-based pharmaceuticals company which makes and sells branded generics in select therapeutic areas with the focus on developing products linked to lifestyle-related disorders is planning to launch initial public offering (IPO) of Rs 2,000 crore this month.

“The company and the bankers have been busy with international investor roadshows over the last couple of months. They are in the process of winding up the roadshows, post which the company will finalize the dates for the launch of the IPO and the pricing of the offer. The plan is to launch the IPO before end of June,” reports livemint.

According to livemint reports, Amit Bakshi founder of Eris Lifesciences will sell 0.5% from its 39.97% stake while Rakesh Shah, Rajendra Patel, Kausal Shah and Inderjeet Negi will also selling their shares. On the other hand ChrysCapital, a private equity firm which having 16.25% stake in the company will sell all of its 22.34 million shares.

In May, Eris lifesciences has got go-ahead node from regulators after filing its share sale prospectus with the SEBI in February.

Read also: Eris Lifesciences gets SEBI nod for Rs 2000 crore IPO

Axis Capital, Citibank and Credit Suisse are the bankers to the issue.

In the past, positive response has been shown by the market to new healthcare and pharma stocks. Shares of healthcare services firms such as Dr Lal Pathlabs Ltd, Narayana Hrudayalaya Ltd and Thyrocare Ltd were snapped by Investors with the subscription of IPO 33,8 and 74 times, respectively reports livemint.