Shares of Eris Lifesciences surrendered early gains and ended flat in its debut trade today. The stock ended the day at Rs 601.05, down 0.32 per cent against the issue price of Rs 603 on BSE. The stock was listed at Rs 612, up 1.49 per cent earlier in the day. During the day, it touched a high of Rs 627.70 and a low of Rs 592.30.
At NSE, shares of the company fell by 0.24 per cent to close at Rs 601.50. In terms of volume, 13.26 lakh shares of the company were traded on BSE and over 71 lakh shares changed hands on NSE during the day. The company’s market valuation stands at Rs 8,264.44 crore.
Its IPO was oversubscribed 3.29 times during June 16- 20. The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 4.68 times, non-institutional investors 45 per cent and retail investors 3.51 times. The price band for the share sale was fixed at Rs 600- 603.
The book running lead managers to the offer were Axis Capital, Citigroup Global Markets India and Credit Suisse Securities (India). Eris Lifesciences is into manufacturing of branded pharmaceutical products in select therapeutic areas.