IPO round up: Eris Lifesciences IPO garners 3 times subscription

The IPO entirely comprises of secondary share sale by promoter group entities

The Rs 1,740-crore initial public offering (IPO) of Eris Lifesciences was subscribed 3.3 times on Tuesday, the last day of the issue.  The 16-million share offering had received bids for 52.3 million shares, according to stock exchanges’ data. The institutional and retail portion of the IPO was subscribed 4.7 times and 3.5 times, respectively. The high net worth individual (HNI) segment garnered only 45 per cent subscription. The price band for the IPO was Rs 600-603 per share. Eris Lifesciences is an Ahmedabad-based specialty pharmaceuticals company with special focus on lifestyle-related therapeutic areas, including cardiovascular and anti-diabetics. The IPO entirely