<p>Shares of the company opened at Rs 224.40 on the BSE, down 1.57 per cent against the issue price.Meanwhile, the broader gauge Sensex was also down by 113.11 points vis-a-vis the previous close at 19,751.74 at 0948 hours.<br /><br />The Rs 3,000 crore share sale of Claris Lifesciences got a lukewarm response from investors, due to which the company had extended the closing date for the initial public offer (IPO) and lowered the price band to Rs 228-Rs 235 from the earlier band of Rs 278-Rs 293 per share.<br /><br />Following the conclusion of the IPO, the company had fixed the issue price of shares at Rs 228 apiece, the lower end of the price band.The Ahmedabad-based company will use the proceeds from the IPO for capacity expansion, as well as to set up a research and development facility and retire debt.<br /><br />Claris Lifesciences is one of the largest sterile injectables pharmaceutical companies in the country, with a presence in 76 markets worldwide.</p>
<p>Shares of the company opened at Rs 224.40 on the BSE, down 1.57 per cent against the issue price.Meanwhile, the broader gauge Sensex was also down by 113.11 points vis-a-vis the previous close at 19,751.74 at 0948 hours.<br /><br />The Rs 3,000 crore share sale of Claris Lifesciences got a lukewarm response from investors, due to which the company had extended the closing date for the initial public offer (IPO) and lowered the price band to Rs 228-Rs 235 from the earlier band of Rs 278-Rs 293 per share.<br /><br />Following the conclusion of the IPO, the company had fixed the issue price of shares at Rs 228 apiece, the lower end of the price band.The Ahmedabad-based company will use the proceeds from the IPO for capacity expansion, as well as to set up a research and development facility and retire debt.<br /><br />Claris Lifesciences is one of the largest sterile injectables pharmaceutical companies in the country, with a presence in 76 markets worldwide.</p>