Eris Lifesciences Wednesday said its board has approved buyback of shares worth up to Rs 100 crore.
The buyback is for 17.39 lakh shares at Rs 575 apiece.
The promoters and promoter group of the drug firm have expressed their intention to not participate in the buyback, Eris Lifesciences said in a filing to BSE.
The 17.39 lakh shares constitute around 1.26 per cent of the total paid up equity capital of the company, it added.
Shares of Eris Lifesciences closed at Rs 496.50 per scrip on BSE, down 1.75 per cent from the previous close.
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