ChrysCapital exits Eris Lifesciences; sells 7.27% stake for Rs 1,187 cr

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