Healthcare company Eris Lifesciences is set to make a debut on exchanges on Thursday, June 29. The issue price is fixed at higher end of price band of Rs 600-603 per share.
The initial public offer of the company was opened for three-day bidding during June 16-20 and was oversubscribed 3.29 times due to weak sentiment and poor response from high networth individuals.
The portion reserved for qualified institutional buyers was oversubscribed 4.68 times and retail investors 3.51 times but the portion set aside for non institutional investors was subscribed only 45 percent.
The Ahmedabad-based pharma company raised Rs 1,741 crore through the issue, including Rs 779 crore from 21 anchor investors. It was an offer for sale by existing shareholders.
Eris Lifesciences is into manufacturing of branded pharmaceutical products in select therapeutic areas.
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