Private equity firm ChrysCapital has exited its investment in Eris Lifesciences by selling its entire 7.27% stake in the company for ₹1,187 crore. The stake was purchased by Infinity Partners through an open market transaction.
ChrysCapital, through its affiliate Emerald Investment Ltd, sold nearly 99 lakh shares of Eris Lifesciences at an average price of ₹1,201 per share. This sale marks ChrysCapital’s complete exit from the Ahmedabad-based pharmaceutical company, which is a leading player in the domestic branded formulations market.
Following the transaction, shares of Eris Lifesciences saw a rise of 2.13%, closing at ₹1,238.65 per share on the National Stock Exchange (NSE).
Earlier in the month, Eris Lifesciences reported a 4.5% decline in its consolidated profit after tax, which stood at ₹89 crore for the quarter ending June 30, 2024. This was down from ₹94 crore in the same quarter last year. However, the company’s revenue increased significantly, rising to ₹720 crore from ₹467 crore in the previous year.
