Shardul Amarchand Mangaldas & Co Advises in Relation to the INR 1741 Crore IPO of Eris Lifesciences

Shardul Amarchand Mangaldas acted as the legal counsel as to Indian law to Eris Lifesciences Limited (Issuer Company) and to Botticelli (an Investor Selling Shareholder, which is an affiliate of ChrysCapital) in the Initial Public Offering (IPO) of Eris Lifesciences Limited. Eris Lifesciences is the youngest Indian pharmaceutical company to list its Equity Shares on the Stock Exchanges. It is engaged in developing, manufacturing and commercializing branded pharmaceutical products in select therapeutic areas within the chronic and acute categories of the Indian pharmaceutical market, such as: cardiovascular; anti-diabetics; vitamins; gastroenterology; and anti-invectives. Its focus primarily has been on developing products in the chronic and acute category which are linked to lifestyle related disorders

The Capital Markets Team of Shardul Amarchand Mangladas was led by Mr. Prashant Gupta, Partner, National Practice Head - Capital Markets; and Ms. Manjari Tyagi, Partner; and included Ms. Serena Upadhyay, Senior Associate, Mr. Devi Prasad Patel, Associate and Ms. Trishita Dasgupta, Associate.

As a part of the transaction, 28,875,000 equity shares of face value of INR 1 each (‘Equity Shares’) of Eris Lifesciences Limited (or Eris Lifesciences) were offered for cash at a price of INR 603 per Equity Share, aggregating to INR 1741.16 Crore through an offer for sale by certain shareholders of Eris Lifesciences, including Botticelli (the ‘Offer’). Botticelli, an affilate of ChrysCapital has sold its entire stake of over 16% in Eris Lifesciences through the IPO. The Offer also included a reservation of 150,000 Equity Shares for subscription by the Eligible Employees of Eris Lifesciences, who were offered a discount of INR 60 per Equity Share to the Offer Price of Rs. 603.

Axis Capital Limited, Citigroup Global Markets India Private Limited and Credit Suisse Securities (India) Private Limited were the Book Running Lead Managers to the transaction.

Other advisors to the transaction were Axis Capital Limited, Citigroup Global Markets India Private Limited and Credit Suisse Securities (India) Private Limited (acted as the Book Running Lead Managers to the Offer), Khaitan & Co (acted as the legal counsel to the Book Running Lead Managers as to Indian law.) and Sidley Austin LLP (acted as the international legal counsel to the Book Running Lead Manager).

The offer closed on June 20, 2017 and the equity shares of Eris Lifesciences commenced listing and trading on the BSE and NSE on June 29, 2017.

About Shardul Amarchand Mangaldas & Co

With the legacy of a century, Shardul Amarchand Mangaldas & Co, established in 2015, is one of India’s leading law firms rated by international organisations, law directories and professional journals. As a full service law firm, Shardul Amarchand Mangaldas is renowned in the business community for its ability to enable business, its innovative solutions, responsiveness and collaboration with its clients. The Firm continues its journey as “a young and wise firm” in its “Centenary Year of Excellence”.

Currently, the Firm has over 480 lawyers, including 91 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurgaon, Ahmedabad, Kolkata, Bangalore and Chennai.