The initial public offering (IPO) of Eris Lifesciences was subscribed 0.75 times on Monday with investors bidding for 1.20 crore shares of the 1.59 crore shares on offer. The qualified institutional buyers bid 70.23 lakh shares against the 86.17 lakh shares reserved for them.
High net-worth individuals (HNIs) bid for 1.39 lakh shares against 43.08 lakh shares reserved for them, retail investors bid for 48.20 lakh shares against 28.72 lakh shares reserved for them and employees bid 49,656 shares against 1.50 lakh shares reserved for them.
Eris Lifesciences allotted 1.29 crore equity shares at Rs 603 per equity share aggregating to Rs 779.43 crore to 21 anchor investors on Thursday.
Eris Lifesciences has priced its initial public offering between `600 and `603 per equity share. The IPO comprises an offer for sale (OFS) of 2.88 crore equity shares by shareholders. Axis Capital, Citigroup Global Markets, and Credit Suisse Securities India are the book running lead managers to the offer.
Eris develops, manufactures and commercialises 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.