ChrysCapital Exits Eris Lifesciences for Rs 1,187 Crore
By Rediff Money Desk, New Delhi Aug 22, 2024 20:26
ChrysCapital has exited Eris Lifesciences by selling its 7.27% stake for Rs 1,187 crore via an open market transaction. Infinity Partners acquired the shares.
New Delhi, Aug 22 (PTI) Private equity major ChrysCapital on Thursday exited Eris Lifesciences by selling its entire 7.27 per cent stake in the company for Rs 1,187 crore via open market transaction, while Infinity Partners picked up shares of the firm.
Eris Lifesciences Ltd is a listed Indian pharmaceutical company and a leading player in the domestic branded formulations market.
According to the block deal data available on the National Stock Exchange (NSE), ChrysCapital through its affiliate Emerald Investment Ltd sold 98,86,882 shares, amounting to a 7.27 per cent stake in Ahmedabad-based Eris Lifesciences.
The shares were disposed of at an average price of Rs 1,201 apiece, taking the transaction value to Rs 1,187.41 crore.
These shares were picked up by Infinity Partners at the same price, as per the data on the exchange.
Shares of Eris Lifesciences rose 2.13 per cent to close at Rs 1,238.65 apiece on the NSE.
Earlier this month, Eris Lifesciences said its consolidated profit after tax declined by 4.5 per cent year-on-year to Rs 89 crore for the quarter ended on June 30, 2024.
The drug maker reported a profit after tax of Rs 94 crore in the April-June quarter of the last fiscal.
Its revenue rose to Rs 720 crore for the first quarter of 2024-25 from Rs 467 crore in the year-ago period.
Eris Lifesciences Ltd is a listed Indian pharmaceutical company and a leading player in the domestic branded formulations market.
According to the block deal data available on the National Stock Exchange (NSE), ChrysCapital through its affiliate Emerald Investment Ltd sold 98,86,882 shares, amounting to a 7.27 per cent stake in Ahmedabad-based Eris Lifesciences.
The shares were disposed of at an average price of Rs 1,201 apiece, taking the transaction value to Rs 1,187.41 crore.
These shares were picked up by Infinity Partners at the same price, as per the data on the exchange.
Shares of Eris Lifesciences rose 2.13 per cent to close at Rs 1,238.65 apiece on the NSE.
Earlier this month, Eris Lifesciences said its consolidated profit after tax declined by 4.5 per cent year-on-year to Rs 89 crore for the quarter ended on June 30, 2024.
The drug maker reported a profit after tax of Rs 94 crore in the April-June quarter of the last fiscal.
Its revenue rose to Rs 720 crore for the first quarter of 2024-25 from Rs 467 crore in the year-ago period.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- FSN E-Commerce Ventu
- 226.90 (+ 7.84)
- 44986839
- Rajnish Wellness
- 4.35 (+ 9.85)
- 42383762
- Reliance Power L
- 34.45 ( -4.99)
- 37949700
- GTL Infrastructure
- 2.81 ( -2.09)
- 34669129
- ARC Finance
- 1.33 (+ 4.72)
- 30775342
MORE NEWS
India-Seychelles Trade Ties Strengthen:...
India and Seychelles are exploring stronger business ties with opportunities for Indian...
Funskool Brings CATAN Board Game to India | MRF...
Funskool India, backed by MRF Group, has secured rights from Asmodee to distribute the...
Jeyyam Global Foods IPO: Rs 80-82 cr Raise, Sep...
Jeyyam Global Foods, a leading supplier of Bengal gram and fried gram, is launching an...