 "Eris Lifesciences IPO subscribed 75% a day before close")
The Rs 1,740-crore initial public offering (IPO) of Eris Lifesciences was subscribed 75 per cent on Friday. The 16-million share offering had received bids for around 12 millions shares, data provided by stock exchanges showed.
Eris Life has already raised Rs 779 crore from 21 anchor investors, which included Goldman Sachs, Morgan Stanley and Birla Sunlife Mutual Fund.
These investors were allotted shares at the top end of the price band of Rs 600 to Rs 603 per share.
Eris Lifesciences is an Ahmedabad-based specialty pharma company with special focus on lifestyle-related therapeutic areas, including cardiovascular and anti-diabetics. The IPO entirely comprises of secondary share sale by the promoter group entities.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%