Bookbuilding IPO | ₹1,740 Cr | Listed at BSE, NSE | Fri, Jun 16, 2017 - Tue, Jun 20, 2017
Eris Lifesciences IPO is a book build issue of ₹1,740.49 crores. The issue is entirely an offer for sale of 2.89 crore shares of ₹1,740.49 crore.
Eris Lifesciences IPO bidding started from Jun 16, 2017 and ended on Jun 20, 2017. The allotment for Eris Lifesciences IPO was finalized on Jun 23, 2017. The shares got listed on BSE, NSE on Jun 29, 2017.
Eris Lifesciences IPO price band is set at ₹603 per share. The lot size for an application is 24. The minimum amount of investment required by an retail is ₹14,472 (24 shares) (based on upper price). The lot size investment for sNII is 14 lots (336 shares), amounting to ₹2,02,608, and for bNII, it is 70 lots (1,680 shares), amounting to ₹10,13,040.
The issue includes a reservation of up to 1,50,000 shares for employees offered at a discount of ₹60.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Eris Lifesciences IPO RHP for detailed Information.
IPO Open
Fri, Jun 16, 2017
IPO Close
Tue, Jun 20, 2017
Issue Price
₹603 per share
Market Cap (Pre-IPO)
₹8,291.25 Cr
| IPO Date | 16 to 20 Jun, 2017 |
| Listed on | Thu, Jun 29, 2017 |
| Face Value | ₹1 per share |
| Price Band | ₹600 to ₹603 |
| Issue Price | ₹603 per share |
| Lot Size | 24 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹60.00 |
| Total Issue Size | 2,88,75,000 shares (agg. up to ₹1,740 Cr) |
| Offer for Sale | 2,88,75,000 shares of ₹1 (agg. up to ₹1,740 Cr) |
| Share Holding Pre Issue | 13,75,00,000 shares |
| Share Holding Post Issue | 13,75,00,000 shares |
| BSE Script Code / NSE Symbol | 540596 / ERIS |
| ISIN | INE406M01024 |
Eris Lifesciences IPO comprises a total issue size of 2,88,75,000 shares. The net offer to the public is 2,87,25,000 shares, after excluding 1,50,000 shares under a preferential allotment. Of the Net offer 2,15,43,750 (75.00%) are allocated to QIB, 43,08,750 (15.00%) allocated to NII 28,72,500 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 2,15,43,750 | 75.00% | 74.61% | NA |
| − Anchor Investor Shares Offered | 1,29,26,250 | 44.77% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 86,17,500 | 29.84% | NA | |
| NII (HNI) Shares Offered | 43,08,750 | 15.00% | 14.92% | NA |
| Retail Shares Offered | 28,72,500 | 10.00% | 9.95% | 1,19,687 |
| Preferential Reservations | ||||
| Employee Shares Offered | 1,50,000 | 0.52% | NA | |
| Total Shares Offered | 2,88,75,000 | 100.00% | 100.00% | |
Investors can bid for a minimum of 24 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 24 | ₹14,472 |
| Retail (Max) | 13 | 312 | ₹1,88,136 |
| S-HNI (Min) | 14 | 336 | ₹2,02,608 |
| S-HNI (Max) | 69 | 1,656 | ₹9,98,568 |
| B-HNI (Min) | 70 | 1,680 | ₹10,13,040 |
Eris Lifesciences IPO raises ₹779.45 crore from anchor investors. Eris Lifesciences IPO Anchor bid date is June 15, 2017.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Jun 15, 2017 |
| Shares Offered | 1,29,26,250 |
| Anchor Portion (₹ Cr.) | 779.45 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Jul 23, 2017 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Sep 21, 2017 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 2007, Eris Lifescience Ltd is Ahmedabad, Gujrat based pharmaceutical company engaged in research, development, manufacturing and selling of select therapeutic areas within the chronic and acute categories of the Indian Pharmaceutical Market.
Eris product portfolio is primarily focused on therapeutic areas which require the intervention of super specialist and specialist doctors such as Diabetologists, Endocrinologists Cardiologists, and Gastroenterologists.
Eris products in the chronic category cater primarily to the therapeutic areas including cardiovascular, anti-diabetics and neurology, chronic respiratory and chronic pain (analgesics).
In acute category, the product portfolio includes vitamins, gastroenterology, anti-infectives, gynaecology, cute respiratory, acute pain (analgesics), hepatoprotectives, hormones, hematology, dermatology, anti-obesity products and products for injury healing.
Eris Lifescience own and operate a manufacturing facility in Guwahati, Assam. They also outsource the manufacturing of certain of its products to 20 manufacturers. Eris strong sales team comprised 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 higher incidence of lifestyle disorders and concentration of specialists and super specialists
• Multi-faceted product selection and engagement model leading to growth in prescription
• Strong sales, marketing and distribution capabilities
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | The company will not receive any proceeds from the Offer and all the proceeds will go to the Selling Shareholders. |
The Eris Lifesciences IPO is subscribed 3.29 times on June 20, 2017 5:00:00 PM (Day 3). The public issue subscribed 3.51 times in the retail category, 4.68 times in the QIB category, and 0.45 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 4.68 | 86,17,500 | 4,03,67,832 |
| NII | 0.45 | 43,08,750 | 19,37,736 |
| Retail | 3.51 | 28,72,500 | 1,00,95,624 |
| Employee | 0.86 | 1,50,000 | 1,29,720 |
| Total | 3.29 | 1,59,48,750 | 5,25,30,912 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs (including brokerage and selling commission) | 36.04 |
| 2 | Selling commission and processing fees for SCSBs | 1.35 |
| 3 | Brokerage, selling commission and bidding charges for the members of the Syndicate, Registered Brokers, Collecting RTAs and CDPs | 0.86 |
| 4 | Fees payable to the Registrar to the Offer | 0.02 |
| 5 | Listing fees, SEBI filing fees, book building software fees and other regulatory expenses, printing and stationery expenses, advertising and marketing expenses for the Offer and fees payable to the legal counsels | 25.21 |
| 6 | Miscellaneous | 16.02 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹603.00 | ₹603.00 |
| Open | ₹612.00 | ₹611.00 |
| Low | ₹592.30 | ₹593.25 |
| High | ₹627.70 | ₹628.00 |
| Last Trade | ₹601.05 | ₹601.50 |
Eris Lifesciences IPO is a main-board IPO of 2,88,75,000 equity shares of the face value of ₹1 aggregating up to ₹1,740 Crores. The issue is priced at ₹603 per share. The minimum order quantity is 24.
The IPO opens on Fri, Jun 16, 2017, and closes on Tue, Jun 20, 2017.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Eris Lifesciences IPO using UPI as a payment gateway. Zerodha customers can apply in Eris Lifesciences IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Eris Lifesciences IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Eris Lifesciences IPO opens on Fri, Jun 16, 2017 and closes on Tue, Jun 20, 2017.
Eris Lifesciences IPO lot size is 24, and the minimum amount required for application is ₹14,472.
You can apply in Eris Lifesciences IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Eris Lifesciences IPO will be done on Friday, June 23, 2017, and the allotted shares will be credited to your demat account by Wed, Jun 28, 2017. Check the Eris Lifesciences IPO allotment status.
The Eris Lifesciences IPO listing date is on Thu, Jun 29, 2017.
