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Company Background

Company Background

Eris Lifesciences Limited ("Eris") is developing, manufacturing and commercializing branded pharmaceutical products in select Therapeutic areas within the Chronic and Acute Categories of the Indian Pharmaceutical Market ("IPM"), such as: Cardiovascular; Anti-Diabetics; Vitamins; Gastroenterology; and Anti-Infectives.

The Chronic category of the IPM contributed 65.6% of their revenues in Fiscal 2017. The company ranked 20th out of 377 domestic and multinational companies present in the chronic category of the IPM, in terms of revenues for Fiscal 2017.

Eris is the fastest growing company, in the Chronic category, among the top 25 companies in terms of revenues, with revenue growth at CAGR of 28.9%, between Fiscals 2013 and 2017. Eris generated 34.4% in Fiscal 2017, of the revenues from the Acute category of the IPM. Their revenues from the Acute category grew at a CAGR of 12% between Fiscals 2013 and 2017.

The product portfolio comprised of 80 Mother Brand Groups as of March 31, 2017. The product portfolio has primarily focused on therapeutic areas, which require the intervention of Specialists and Super Specialists such as Cardiologists, Diabetologists, Endocrinologists and Gastroenterologists.

Sales in metro cities and class 1 towns, together accounted for 76.8% of the revenues in Fiscal 2017, as a majority of specialists and super specialists based in these metro cities and class 1 towns.

Between Fiscals 2013 and 2017, there has been an increase in the number of doctors prescribing the company products from 37,842 (constituting 13.8% of doctors in metro cities and class 1 towns in India) to 50,282 (constituting 15.7% of doctors in metro cities and class 1 towns in India) with a prescription share of 1.3% for Fiscal 2017.
Issue Highlights
Issue opens Friday, June 16, 2017
Issue closes Tuesday, June 20, 2017
Price Band Rs. 600 to Rs. 603
Offer Size Offer for sale of 2,88,75,000 Equity shares
Employee Reservation of 1,50,000 Shares
Net Offer: 2,87,25,000 Equity Shares
Bid Lot 24 Equity Shares & in multiple thereafter
Face Value Rs.1/-
Discount Rs.60/- per Share to Eligible Employee of the Company
Listing NSE and BSE
BRLM Axis Capital / Citigroup / Credit Suisse
Registrar Link Intime India Private Limited
Payment Compulsorily ASBA Mode

Issue Break up

Issue Size Issue Size Allocation No. of Shares Issue Size (Rs. in Crs)
Lower Band Upper Band
Employee   150,000 8.10 8.15
QIB 75.00% 2,15,43,750 1,292.63 1,299.09
NIB 15.00% 43,08,750 258.53 259.82
Retail 10.00% 28,72,500 172.35 173.21
Total 100% 2,88,75,000 1731.61 1740.27
Object of the Issue
The objects of the Offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges and for the sale of up to 28,875,000 Equity Shares by the Selling Shareholders. Further, Company expects that listing of the Equity Shares will enhance their visibility and brand image and provide liquidity to their shareholders. Listing will also provide a public market for the Equity Shares in India. The Company will not receive any proceeds from the Offer and all the proceeds will go to the Selling Shareholders, in proportion to the Equity Shares offered by the respective Selling Shareholders in the Offer for Sale.
Retail Payment Chart
Retail Payment Chart - ERIS LIFESCIENCES LIMITED IPO
No. of Shares Cut off price per share Rs.603 Total Amount (Rs.)
24 603 14,472
48 603 28,944
72 603 43,416
96 603 57,888
120 603 72,360
144 603 86,832
168 603 101,304
192 603 115,776
216 603 130,248
240 603 144,720
264 603 159,192
288 603 173,664
312 603 188,136
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SEBI/ Regulatory Registration Nos.: BSE:INB/INF 010607233 NSE:INB/INF/INE 230607239. Merchant Banking: INM000010973 DP Reg: IN-DP-CDSL-28-99 DP ID - CDSL 12013200
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