1. Eris Lifesciences shares end flat in debut trade

Eris Lifesciences shares end flat in debut trade

Shares of pharmaceutical company Eris Lifesciences surrendered early gains and ended flat in its debut trade on Thursday. The stock made its debut on BSE at `612, a 1.49% premium to its issue price of `603.

By: | Mumbai | Published: June 30, 2017 4:49 AM
Eric Lifesciences, Eric Lifesciences latest news, Eric Lifesciences news Eris Lifesciences shares end flat in debut trade (Reuters).

Shares of pharmaceutical company Eris Lifesciences surrendered early gains and ended flat in its debut trade on Thursday. The stock made its debut on BSE at `612, a 1.49% premium to its issue price of `603. It touched its intraday high and low of `627.70 and `592.30, respectively, before closing the day at `601.05, down 0.32% from its issue price. The initial public offering (IPO) of the company was subscribed 3.29 times with investors bidding for 5.24 crore shares against 1.59 crore shares reserved. Qualified institutional buyers had bid for 4.03 crore shares of the 86.17 lakh shares reserved for them. High net-worth individuals (HNIs) bid for 19.37 lakh shares against 43.08 lakh shares reserved for them, retail investors bid for 100,59,816 shares against 28.72 lakh shares reserved for them and employees bid 1.29 lakh shares against 1.5 lakh shares reserved for them. Eris Lifesciences finalised the allotment of 1.29 crore equity shares at `603 per equity share aggregating to `779.43 crore to 21 anchor investors. The pharmaceutical company has priced its IPO 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 India and Credit Suisse Securities are book running lead managers to the issue.

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