Eris Lifesciences IPO subscribed 12% on Day 1
New Delhi: The initial public offer (IPO) of Eris Lifesciences was subscribed 12% on the first day of bidding on Friday.
The IPO, to raise Rs1,741 crore, received bids for 18,55,728 shares against the total issue size of 1,59,48,750 shares, as per data available with the NSE till 6:15pm.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 7%, non-institutional investors 2% and retail investors 41%.
Eris Lifesciences on Thursday mopped up Rs779 crore from 21 anchor investors.
The price band for the share sale has been fixed at Rs 600-603. The offer, which closes on 20 June, comprises sale of 2.89 crore shares.
The book running lead managers to the offer are Axis Capital, Citigroup Global Markets India and Credit Suisse Securities (India).
Eris Lifesciences is into manufacturing of branded pharmaceutical products in select therapeutic areas.