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Eris Lifesciences shares rise in debut after $264 million IPO

Reuters |  Jun 29, 2017 10:18 AM IST

REUTERS - Indian drugmaker Eris Lifesciences Ltd's shares rose as much as 4.2 percent on their trading debut on Thursday, after its initial public offering raised 17 billion rupees ($263.8 million).

The shares were up 1.2 percent at 610.45 rupees by 0434 GMT on the National Stock Exchange, compared with their IPO price of 603 rupees.

The IPO was subscribed more than three times on the last day of the sale on June 20.

($1 = 64.4400 Indian rupees)

(Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Amrutha Gayathri)

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