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Eris Lifesciences IPO subscribed 75 pc on Day 2

Press Trust of India  |  New Delhi 

The initial public offer of Eris Lifesciences was subscribed 75 per cent on the second day of the issue today.

The IPO, to raise Rs 1,741 crore, received bids for 1,20,33,096 against the total issue size of 1,59,48,750 shares, data available with the showed.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 82 per cent, non institutional investors 3 per cent and retail investors 1.68 times.

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, which closes tomorrow, comprises sale of 2.89 crore

The book running lead managers to the offer are Axis Capital, Citigroup and Credit Suisse Securities (India).

Eris Lifesciences is into manufacturing of branded pharmaceutical products in select therapeutic areas.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 19 2017. 20:13 IST