Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Eris Lifesciences Ltd ( (IN:ERIS) ) has shared an update.
Eris Lifesciences has allotted 2,306,372 fully paid equity shares of face value Re 1 each at an issue price of ₹1,835.35 per share on a preferential basis via private placement to investor Naishadh Shah, as consideration other than cash. The shares were issued in exchange for 1,674,493 equity shares representing 30% of Swiss Parenterals Ltd, completing Eris’s acquisition of this stake and making Swiss Parenterals a wholly owned subsidiary. Following the allotment, Eris’s paid-up equity capital has risen from ₹13.62 crore to ₹13.85 crore, with the new shares ranking pari passu with existing equity except for regulatory lock-in conditions, and are to be listed on NSE and BSE after receipt of listing approvals, signaling further consolidation of Eris’s manufacturing footprint and control over its injectable/ parenteral capabilities.
More about Eris Lifesciences Ltd
Eris Lifesciences Ltd is an Indian pharmaceutical company focused on branded formulations, particularly in chronic and lifestyle-related therapy areas, and has been expanding its portfolio and manufacturing capabilities through strategic acquisitions and subsidiaries in the domestic market.
Average Trading Volume: 9,184
Technical Sentiment Signal: Buy
Current Market Cap: 200.5B INR
For a thorough assessment of ERIS stock, go to TipRanks’ Stock Analysis page.