Eris Lifesciences makes tepid start, up 1% against IPO price

Eris Lifesciences makes tepid start, up 1% against IPO price

29/06/2017 13:08

Drug maker Eris Lifesciences made a quite debut on the Bombay Stock Exchange on Thursday by listing at Rs 612, slightly higher initial public offer (IPO) price of Rs 603.

After making a tepid start, shares of company touched an intra-day high and low of Rs 627.70 and Rs 592.30 respectively. The shares of company were currently trading at Rs 608.60 apiece, down 0.56 per cent against issue price.

Listed on the exchange in the list of ‘B’ group securities, the company has raised Rs 1,741 crore though IPO, which was subscribed 3.3 times. The price band for the share sale has been fixed at Rs 600-603. The offer 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).

Meanwhile, the broader benchmark BSE Sensex was trading at 30955.42, up by 121.1 points or by 0.39 per cent.

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