Eris Lifesciences Limited is planning to hit the streets with an IPO which would be open for subscription between June 16, 2017 and June 20, 2017

Eris Lifescience Ltd is Ahmedabad, Gujrat based pharmaceutical company engaged in research, development, manufacturing and selling of select therapeutic areas within the chronic and acute categories of the Indian Pharmaceutical Market.

Eris product portfolio is primarily focused on therapeutic areas which require the intervention of super specialist and specialist doctors such as Diabetologists, Endocrinologists Cardiologists, and Gastroenterologists.

Eris products in the chronic category cater primarily to the therapeutic areas including cardiovascular, anti-diabetics and neurology, chronic respiratory and chronic pain (analgesics)

The objects of the Offer are:
1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and 
2. For the sale of up to 28,875,000 Equity Shares by the Selling Shareholders.

The Offer comprises the Fresh Issue and the Offer for Sale.

1. Offer for Sale - The company will not receive any proceeds from the Offer for Sale.

2. Fresh Issue - Company proposes to utilize the Net Proceeds towards funding the following objects:

A. Capital expenditure towards payment of salaries and wages of research and development team;
B. Working capital requirement; and
C. General corporate purposes.

IFL IPO -    Objects of the Issue:

The object of the issue are:

1. Repayment of Unsecured Loans from NBFC;
2. General Corporate Purposes;
3. Issue Expenses