Eris Lifesciences hits record low as stock turns ex-date for share buyback

On July 3, the company's board approved buyback of shares worth up to Rs 100 crore. The buyback is for 1.74 million shares at Rs 575 per share.

Shares of Eris Lifesciences hit a lifetime low of Rs 450, down 8 per cent in early morning trade, on the BSE on Friday as the pharmaceutical company's stock turned ex-date for buyback today.

The company has fixed Monday, July 15, 2019 as the record date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the bbuyback on a proportionate basis through "Tender Offer" route.

On July 3, Eris Lifesciences approved buyback of shares worth up to Rs 100 crore. The buyback is for 1.74 million shares at Rs 575