ChrysCapital Exits Eris Lifesciences with Rs 1,187 Crore Via Open Market Transaction

ChrysCapital sold its entire 7.27% stake in Eris Lifesciences for Rs 1,187 crore in an open market transaction. Infinity Partners acquired the shares. Eris Lifesciences, an Indian pharmaceutical firm, saw its stock rise by 2.13%. The company reported a revenue increase but a decline in its quarterly profit.

Private equity giant ChrysCapital has divested its 7.27% stake in Eris Lifesciences for Rs 1,187 crore through an open market transaction on Thursday, according to sources.

The buyer of these shares, Infinity Partners, acquired them at an average price of Rs 1,201 per share, documents from the National Stock Exchange indicate. Following the transaction, shares of Eris Lifesciences experienced a 2.13% uptick, closing at Rs 1,238.65 apiece on the NSE.

In financial developments, the Ahmedabad-based pharmaceutical company reported a marginal decline in its consolidated profit after tax to Rs 89 crore for the quarter that ended on June 30, 2024, compared to Rs 94 crore in the same period last year. However, its revenue for the first quarter of 2024-25 showed a marked increase to Rs 720 crore from Rs 467 crore in the corresponding year-ago period.

(With inputs from agencies.)