Eris Lifesciences Shareholder Sells 1.5% Stake for Rs 200 Crore

New Delhi, Jul 15 (PTI) Eris Lifesciences shareholder Rakesh Shah on Monday divested a 1.5 per cent stake in the company for Rs 200 crore through an open market transaction.

According to the bulk deal data available on the National Stock Exchange (NSE), Shah sold 20 lakh shares or 1.5 per cent stake in Eris Lifesciences.

The shares were offloaded at an average price of Rs 1,000.12 per piece, taking the deal value to Rs 200.02 crore.

After the transaction, Shah's stake in Ahmedabad-based Eris Lifesciences came down to 3.38 per cent from 4.88 per cent.

Meanwhile, Franklin Templeton Mutual Fund picked up 10.94 lakh shares of Eris Lifesciences at at an average price of Rs 1,000.04 apiece.

This took the transaction value to Rs 109.42 crore. However, other buyers of Eris Lifesciences' shares could not be ascertained.

The scrip of Eris Lifesciences fell 2.80 per cent to settle at Rs 1,014 apiece on the NSE.

In July 2023, Shah pared a 2 per cent stake in Eris Lifesciences for Rs 188.19 crore.