IPO Alert: Eris Lifesciences IPO Subscribed By 83% Till 10:45 Am


Ahmedabad-based company Eris Lifesciences IPO issue size stands at 1,59,48,750 shares.

Total bids received as of 1045 hours stand at 1,31,85,096 shares and total bids received at cut-off price stand at 49,92,168 shares, as per the data available with National Stock Exchange (NSE).

So far, the issue got subscribed by 83% on the last day of its subscription.

The company on Thursday has raised Rs 779.43 crore from anchor investors ahead of its Rs 1,800 crore initial public offer (IPO).

The company’s existing shareholders will sell 28,875,000 equity shares. Private equity giant ChrysCapital’s investment arm Botticelli would sell its entire 16.25% stake or 22,344,000 shares, in Eris Lifesciences.

The company reported a constant rise in revenue over the past five years. Its net revenue from operations for the year ended March 31, 2016, stood at around Rs 623.2 crore, witnessing a rise of around 11% on Y-o-Y basis.

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