Eris Lifesciences shares gain 1.5% in debut trade

Shares of Eris Lifesciences rose by 1.5 per cent over the issue price of Rs 603 in its debut trade today.
The stock listed at Rs 612, up 1.49 per cent from the issue price on the BSE.
On the NSE, it opened the day at Rs 611, a gain of 1.32 per cent.
The company commands a market valuation of Rs 8,415 crore. Its IPO was oversubscribed 3.29 times during June 16- 20.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 4.68 times, non-institutional investors 45 per cent and retail investors 3.51 times.
The price band for the share sale was fixed at Rs 600- 603.

The book running lead managers to the offer were Axis Capital, Citigroup Global Markets India and Credit Suisse Securities (India).
Eris Lifesciences is into manufacturing of branded pharmaceutical products in select therapeutic areas.