Eris Lifesciences List At 1.32% Premium On NSE

Eris Lifesciences made premium debut on the NSE clocking gains of 1.32% at Rs 611 per share as compared to its issue price of Rs 603 per share.

It concluded its initial public offer (IPO) last week and was subscribed 3.29 times in its three-day bidding from June 16-20.

The portion set aside for retail investors was oversubscribed 3.51 times and qualified institutional buyers was oversubscribed 4.68 times. The portion reserved for non-institutional investors was subscribed only 45%.

The company raised Rs 1,741 crore through the issue, including Rs 779 crore from 21 anchor investors. It was an offer for sale by existing shareholders.
Eris Lifesciences is into manufacturing of branded pharmaceutical products in select therapeutic areas.

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About Suhani Varma