IPO Alert: Eris Lifesciences IPO subscribed by 73% till 4:30 PM

India Infoline News Service | Mumbai | June 19, 2017 16:37 IST

Eris Lifesciences, an Ahmedabad-based company, on Thursday has raised Rs 779.43 crore from anchor investors ahead of its Rs 1,800 crore initial public offer (IPO).

Eris Lifesciences, an Ahmedabad-based company, on Thursday has raised Rs 779.43 crore from anchor investors ahead of its Rs 1,800 crore initial public offer (IPO).

The IPO issue size stands at 1,59,48,750 shares. Total bids received as of 1630 hours stood at 1,16,99,472 shares and total bids received at cut-off price stood at 36,65,832 shares, as per the data available with National Stock Exchange (NSE). So far, the issue got subscribed by 73% on the second day of its subscription.

The company’s existing shareholders will sell 28,875,000 equity shares. Private equity giant ChrysCapital’s investment arm Botticelli would sell its entire 16.25% stake or 22,344,000 shares, in Eris Lifesciences.

The company reported a constant rise in revenue over the past five years. Its net revenue from operations for the year ended March 31, 2016, stood at around Rs 623.2 crore, witnessing a rise of around 11% on Y-o-Y basis. Net profit for the year ended March 31, 2016, stood at approximately Rs 137.97 crore, witnessing a rise of 65% on Y-o-Y basis.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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