Eris Lifesciences IPO opens on 16 June

2.88 crore shares on offer

Eris Lifesciences is coming up with an initial public offering (IPO) of up to 2.88 crore shares of face value of Re 1 each.

The IPO consists of an offer for sale by the selling shareholders; of up to 2.23 crore shares by Botticelli- the investor selling shareholder and up to 6.87 lakh shares by Amit Indubhushan Bakshi, up to 6.87 lakh shares by Himanshu Jayantbhai Shah, up to 10.31 lakh shares by Inderjeet Singh Negi, up to 10.31 lakh shares by Rajendrakumar Rambhai patel, up to 10.31 lakh shares by Kaushal kamlesh Shah, up to 6.87 lakh shares by Bhikhabhai Chimanlal Shah, up to 6.87 lakh shares by Rakeshbhai Bhikhabhai Shah, and up to 6.87 lakh shares by Hetal Rasiklal shah.

The offer shall constitute 21% of the post-offer paid-up equity share capital of the company. The price band of the IPO has been fixed at Rs 600 to Rs 603 per share of face value of Re 1 each. The IPO will open for subscription on 16 June 2017 and closes on 20 June 2017.

Eris Lifesciences founded by Amit Bakshi and team in 2007 is one of the fastest growing companies within the chronic and acute categories of the Indian branded formulations market such as: cardiovascular; anti-diabetes; vitamins; gastroenterology and gynaecology. The company's focus has been on developing, manufacturing and marketing products which are linked to lifestyle related disorders that are chronic in nature and are treated by superspecialist and specialist doctors.

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