ChrysCapital offloads entire stake in Eris Lifesciences; Infinity Partners acquires shares for ₹1,187 crore
HomeMarket NewsStocks NewsChrysCapital offloads entire stake in Eris Lifesciences; Infinity Partners acquires shares for ₹1,187 crore
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% stake in Ahmedabad-based Eris Lifesciences. The shares were disposed of at an average price of ₹1,201 apiece, taking the transaction value to ₹1,187.41 crore.
By PTI August 23, 2024, 12:29:21 AM IST (Published)
Private equity major ChrysCapital on Thursday exited Eris Lifesciences by selling its entire 7.27% stake in the company for ₹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% stake in Ahmedabad-based Eris Lifesciences.
The shares were disposed of at an average price of ₹1,201 apiece, taking the transaction value to ₹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% to close at ₹1,238.65 apiece on the NSE.
Earlier this month, Eris Lifesciences said its consolidated profit after tax declined by 4.5% year-on-year to ₹89 crore for the quarter ended on June 30, 2024.
The drug maker reported a profit after tax of ₹94 crore in the April-June quarter of the last fiscal.
Its revenue rose to ₹720 crore for the first quarter of 2024-25 from ₹467 crore in the year-ago period.
