The Eris Lifesciences IPO date has been confirmed to have started on June 16, 2017 and ended on June 20, 2017.
Using an IPO, Eris Lifesciences is seeking to raise Rs 1,741.16 crores. Its price band is set at ₹600 to ₹603 per share. The minimum lot size for an application is 24 shares. The minimum amount of investment required by retail investors is ₹14,472.
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Bidding Dates
June 16-20
Price Range
₹600 to ₹603 per share
Face Value
₹1 per share
GMP
₹926.30
Eris Lifesciences IPO GMP
The Eris Lifesciences Limited IPO GMP is ₹926.30.
IPO Overview
The Eris Lifesciences IPO is a book-built offering for Rs 1,741.16 crore. The offering consists wholly of 2.89 crore shares for sale. Bidding for Eris Lifesciences initial public offering (IPO) began on June 16, 2017 and finished on June 20, 2017. On Friday, June 23, 2017, the Eris Lifesciences IPO allotment was completed. On June 29, 2017, the shares were listed on the BSE and NSE. The IPO price range for Eris Lifesciences is set at 600 to 603 per share. An application requires a minimum lot size of 24 shares. Retail investors must make a minimum investment of $14,472. The offering includes a reservation of up to 150,000 shares for employees at a Rs 60 reduction from the issue price.
Vitamins, gastrointestinal, anti-infectives, gynaecology, cute respiratory, acute pain (analgesics), hepatoprotectives, hormones, haematology, dermatology, anti-obesity goods, and damage healing items are included in the acute group. In Guwahati, Assam, Eris Lifescience owns and operates a manufacturing facility. They also outsource the production of certain of their products to 20 different manufacturers. Eris has a robust sales force of 1,310 marketing representatives.
Eris Lifescience Strengths:
- Focus on branded prescription-based pharmaceutical products catering to lifestyle-related disorders
- Portfolio of high-volume and leading brands
- Focus on metro cities and class 1 towns in India, which have a higher incidence of lifestyle disorders and a higher concentration of specialists and super specialists
- A multi-faceted product selection and engagement model leading to growth in prescription
- Strong sales, marketing and distribution capabilities
Eris Lifesciences IPO Details
| IPO Date | June 16, 2017 to June 20, 2017 |
| Listing Date | June 29, 2017 |
| Face Value | ₹1 per share |
| Price Band | ₹600 to ₹603 per share |
| Lot Size | 24 Shares |
| Total Issue Size | 28,875,000 shares (aggregating up to ₹1,741.16 Cr) |
| Offer for Sale | 28,875,000 shares of ₹1 (aggregating up to ₹[.] Cr) |
| Employee Discount | Rs 60 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Eris Lifesciences Company Financials
| Particulars | For the year or period ended (in Rs. Million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | ||
| Total Assets | 3,973.59 | 3,572.85 | 2,705.99 | 1,718.05 | 1,019.67 | |
| Total Revenue | 5,970.21 | 5,455.58 | 5,088.22 | 3,930.64 | 2,739.40 | |
| Profit After Tax | 1,348.58 | 892.59 | 709.12 | 584.40 | 370.63 | |
Eris Lifesciences IPO Timeline
| IPO Open Date | Friday, June 16, 2017 |
| IPO Close Date | Tuesday, June 20, 2017 |
| Basis of Allotment | Friday, June 23, 2017 |
| Initiation of Refunds | Tuesday, June 27, 2017 |
| Credit of Shares to Demat | Wednesday, June 28, 2017 |
| Listing Date | Thursday, June 29, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 20, 2017 |
Company Profile
Eris Lifescience Ltd., founded in 2007, is an Ahmedabad, Gujarat-based pharmaceutical firm specialising in the research, development, production, and sale of chosen therapeutic areas in the chronic and acute categories of the Indian pharmaceutical market. Eris’ product range is primarily focused on therapeutic areas that necessitate the intervention of super specialists and specialists such as diabetologists, endocrinologists, cardiologists, and gastroenterologists. Eris chronic medicines generally address therapeutic areas such as cardiovascular, anti-
diabetics and neurology, chronic respiratory, and chronic pain (analgesics).
Registrar Info
| Name | Link Intime India Private Ltd |
| Phone number | +91-22-4918 6270 |
| Email ID | eris.ipo@linkintime.co.in |
| Website | linkintime.co.in |
Contact Details
| Name | Eris Lifesciences Limited |
| Phone number | +91 79 3045 1111 |
| Email ID | complianceofficer@erislifesciences.com |
| Website | eris.co.in |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
