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Eris Lifesciences IPO Subscribed 75% On Day 2

The IPO, to raise Rs 1,741 crore, received bids for1,20,33,096 shares against the total issue size of 1,59,48,750shares, data available with the NSE showed.
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Eris Lifesciences IPO Subscribed 75% On Day 2
New Delhi: The initial public offer of Eris Lifesciences was subscribed 75 per cent on the second day of the issue on Monday.

The IPO, to raise Rs 1,741 crore, received bids for 1,20,33,096 shares against the total issue size of 1,59,48,750 shares, data available with the NSE showed.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 82 per cent, non institutional investors 3 per cent and retail investors 1.68 times.

Eris Lifesciences last week mopped up Rs 779 crore from 21 anchor investors.

The price band for the share sale has been fixed at Rs 600-603.

The offer, which closes tomorrow, 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.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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