Eris Lifescience to float IPO worth Rs 2,000 cr
DSIJ Intelligence / 08 Jun 2017
Eris Lifescience Ltd, a pharmaceutical company, plans to come up with its initial public offering (IPO) of Rs 2,000 crore on June 16, 2017.
Eris Lifescience Ltd, a pharmaceutical company, plans to come up with its initial public offering (IPO) of Rs 2,000 crore on June 16, 2017.
This IPO will give an exit to Chrys Capital (Pvt Equity Firm) with a good return. In 2011, Chrys Capital invested about Rs 200 crore in Eris for a stake of 16.25 per cent and via this exit, it will make about Rs 1,400 crore.
While Amit Bakshi, founder of Eris Lifescience Ltd, who holds about 39.97 per cent in the company, will sell his 0.5 percent stake. Other investors like Rakesh Shah, Rajendra Patel, Kausal Shah and Inderjeet Negi are also likely to sell their shares.
“The company aims at growing in the range of 18 to 20 percent, ahead of the industry rate of 10 to 12 percent,”said Amit Bakshi, while speaking to a national news agency.
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