The initial public offer of Eris Lifesciences was oversubscribed 1.14 times till early afternoon trade on the last day of bidding today. The IPO, looking to raise Rs 1,741 crore, received bids for 1,82,02,296 shares against the total issue size of 1,59,48,750, data available with the NSE till 1215 hours showed. Eris Lifesciences last week mopped up Rs 779 crore from 21 anchor investors. The price band for the share sale has been fixed at Rs 600-603.
The offer comprises sale of 2.89 crore shares. The book running lead managers to the offer are Axis Capital, Citigroup Global Markets India and Credit Suisse Securities (India). Eris Lifesciences is into manufacturing of branded pharmaceutical products in select therapeutic areas.
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