New Delhi: Shares of Eris Lifesciences rose by 1.5 per cent over the issue price of Rs 603 in its debut trade today.
The stock listed at Rs 612, up 1.49 per cent from the issue price on the BSE. On the NSE, it opened the day at Rs 611, a gain of 1.32 per cent.
The company commands a market valuation of Rs 8,415 crore. Its IPO was oversubscribed 3.29 times during June 16- 20.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 4.68 times, non-institutional investors 45 per cent and retail investors 3.51 times.
The price band for the share sale was fixed at Rs 600- 603.
Eris Lifesciences is into manufacturing of branded pharmaceutical products in select therapeutic areas.
Ruby Khatun joined Medical Dialogue as Reporter in 2016. She covers all the business news in different categories. She also covers all the updates in Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a post graduate from Jamia Hamdard. She can be contacted at firstname.lastname@example.org Contact no. 011-43720751