Pharmaceutical firm Eris Lifesciences has filed draft papers with capital market regulator SEBI to float an initial public offering.
The IPO will see sale of 28,875,000 equity shares by the existing shareholders.
“The company expects that listing of the equity shares will enhance our visibility and brand image and provide liquidity to our shareholders. Listing will also provide a public market for the equity shares in India,” Eris said in the draft documents.
Axis Capital, Citigroup Global Markets India Pvt Ltd and Credit Suisse Securities (India) Pvt Ltd are the book running lead managers to the issue.
The equity shares are proposed to be listed on the BSE and the NSE.
In recent times, healthcare services firms investors Alkem Laboratories, Dr Lal Pathlabs Ltd, Narayana Hrudayalaya Ltd and Thyrocare Ltd have tapped the primary market through IPO route.
About Eris lifesciences
Eris Lifesciences was established in 2007 with its corporate office at Ahmedabad. Eris is engaged in manufacturing, marketing and selling of branded generics within the chronic and acute categories of the Indian Pharmaceutical Market.
It focuses on multiple super specilaity areas. We have a team of over 2287 employees across India as on September 30, 2016.
Eris’s network consists of 1310 marketing representatives which enables us to achieve presence across India for distribution of our products.