Eris Lifesciences IPO To Open On June 16

Gujarat based Eris Lifesciences Limited is coming up with its initial public offering (IPO) on June 16, 2017 worth Rs 2,000 crore, reported a leading business news agency. Through this IPO, the company will issue 28,875,000 equity shares. The IPO issue will follow book building process. The issue opens on June 16 and closes on June 20, 2017. Additional details about the IPO is yet to be released.

Eris has outpaced the Indian Pharmaceutical Market (IPM) growth with a CAGR of 33.9% in Chronic and 20.1% in Acute therapy segment. Private equity firm ChrysCapital, which holds a 16.25% stake in the company, will sell all of its 22.34 million shares, while founder Amit Bakshi, who holds 39.97%, will sell his 0.5% stake, reported leading national business daily.The company develop, manufacture and commercialise branded pharmaceutical products in select therapeutic areas within the chronic and acute categories of the IPM, such as :
Cardiovascular, Anti-Diabetics, Vitamins, Gastroenterology and Anti-Infectives. 

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