Mumbai: Ahmedabad-based pharmaceuticals firm Eris Lifesciences Pvt. Ltd will launch its initial public offering (IPO) worth Rs2,000 crore on 16 June, two persons aware of the development said.
Private equity firm ChrysCapital, which holds a 16.25% stake in the company, will sell all of its 22.34 million shares, while founder Amit Bakshi, who holds 39.97%, will sell his 0.5% stake. Other investors including Rakesh Shah, Rajendra Patel, Kausal Shah and Inderjeet Negi too will sell their shares.
Eris, which filed its share sale prospectus with the Securities and Exchange Board of India in February, received the regulator’s approval in May. Axis Capital, Citibank and Credit Suisse are the bankers to the issue.
Founded in 2007 by sales professional-turned-entrepreneur Bakshi, Eris Lifesciences makes and sells branded generics in select therapeutic areas and focuses on developing products linked to lifestyle-related disorders.
“On a larger basis, there is a scarcity for IPOs by pharmaceutical companies in India and about 2-3 IPOs are being launched in a decade. So, there are always good potential for…