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Eris Lifesciences IPO oversubscribed 3.29 times on last day

Eris Lifesciences IPO oversubscribed 3.29 times on last day

New Delhi:  The initial public offer of Eris Lifesciences was oversubscribed 3.29 times on the last day of the three-day bidding.

The IPO, looking to raise Rs 1,741 crore, received bids for 5,25,02,424 shares against the total issue size

of 1,59,48,750 shares, data available with the NSE till 1930 hours showed.

The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 4.68 times, non institutional investors 45 per cent and retail investors 3.50 times, sources said.

Eris Lifesciences last week mopped up Rs 779 crore from 21 anchor investors.

The price band for the share sale has been fixed at Rs 600-603. The offer comprises sale of 2.89 crore shares.

The book running lead managers to the offer are Axis Capital, Citigroup Global Markets India and Credit Suisse Securities (India).

Eris Lifesciences is into manufacturing of branded pharmaceutical products in select therapeutic areas.

Source: PTI
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