Eris Lifesciences IPO Gets Approved By SEBI:
Private equity firm ChrysCapital-backed Eris Lifesciences Ltd has received the Securities and Exchange Board of India’s (SEBI) approval for an initial public offering (IPO).
The capital markets regulator issued final observations on the IPO proposal of the Ahmedabad-based pharmaceutical company on 28 April. Eris became the 12th company to receive regulatory nod this calendar year.
An IPO and subsequent listing on stock exchanges will help Eris join a clutch of pharmaceutical companies that have either gone public over the past couple of years or have been planning to do so.
The IPO of the Ahmedabad-based branded formulations company comprises 28.87 million shares through an offer for sale by ChrysCapital and promoters. This represents 21% stake dilution on a post-offer basis.
The issue size is estimated to be around Rs 2,000 crore. This will value Eris at Rs 9,500-10,000 crore.
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While now Shankara Building Products IPO Allotment and Listing also completed and it gave good 37.57% premium on first day itself. Now S Chand and Company Ltd IPO also listed on stock market. Next IPO can be Housing and Urban Development Corporation Ltd IPO (HUDCO) where its bidding is going to start from May 08, 2017.
While HUDCO Grey Market Premium (GMP) also started showing movement and currently trading at Rs 28.50 – Rs 29 per equity share.
IRB Infra Invit Fund IPO bidding also able to close successfully on May 05, 2017.
Next in the pipeline will be Central Depository Services Ltd IPO (CDSL IPO) and Continental Warehousing Corporation Ltd IPO (Nhava Seva IPO).
Some SME IPO will also be active in market in coming week.
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