Eris Lifesciences to consolidate its stake in Swiss Parenterals

Eris Lifesciences Limited (BSE: 540596; NSE: ERIS), today announced that its Board of Directors has approved the acquisition of the balance 30% stake in Swiss Parenterals Limited, a subsidiary. The proposed transaction will be effected as a share swap, i.e. through a preferential issuance of Eris equity shares to the seller Mr Naishadh Shah, thereby making him a Top-10 shareholder of Eris and an integral part of Eris' senior management team with long-term alignment.

Commenting on the acquisition, Mr. Amit Bakshi, Chairman & Managing Director of Eris Lifesciences Ltd, said, "On behalf of the shareholders of Eris, I am delighted to welcome Mr. Naishadh Shah to the community of Erisians. I am also happy to share that we propose to designate him as the Managing Director of Swiss Parenterals. FY27 promises to be a breakout year for our international business and Naishadh's continued leadership and stewardship will be pivotal to its growth."

Commenting on the acquisition, Mr. Naishadh Shah, Wholetime Director of Swiss Parenterals Ltd, said, "It is truly exciting to get aligned with Eris as a long-term shareholder and senior management. The Eris platform with its manufacturing capabilities in Ahmedabad and Bhopal, combined with the existing Swiss facilities, will significantly augment our value proposition to our global clientele. I look forward to the next leg of this growth journey."

Shares of Eris Lifesciences Limited was last trading in BSE at Rs. 1681.85 as compared to the previous close of Rs. 1664.10. The total number of shares traded during the day was 3757 in over 806 trades.

The stock hit an intraday high of Rs. 1695.45 and intraday low of 1639.05. The net turnover during the day was Rs. 6243568.00.

Source : Equity Bulls

Keywords

ErisLifesciences INE406M01024 Pharmaceuticals Acquisition BalanceStake SwissParenterals