Corona Remedies IPO Opens for Subscription: Key Details to Know
Corona Remedies Ltd. initial public offer opened for subscription on Monday, with the issue being subscribed 0.11 times or 11% so far. The company’s IPO, worth Rs 655.37 crore, is entirely an offer-for-sale of 62 lakh shares.
The price band for the Corona Remedies IPO has been fixed at Rs 1,008 to Rs 1,062 per share. A single lot size for the IPO comprises 14 shares. Retail investors are required to apply for at least a single lot size, amounting to an investment of Rs 14,868 per application based on the upper end of the issue price.
IPO Process and Issue Details
Bigshare Services Pvt. Ltd. is the issue registrar, while JM Financial Ltd. is the book-running lead manager for the IPO. The IPO was subscribed 0.11 times or 11% as of 10:33 a.m. on Monday, with the breakdown being:
- Qualified Institutional Buyers (QIBs): Nil
- Non-Institutional Investors (NIIS): 0.13 times or 13%
- Retail Individual Investors: 0.16 times or 16%
- Employee Reserved: 0.23 times or 23%
Grey Market Premium and Expected Listing Gains
The grey market premium of Corona Remedies was at Rs 290 apiece as of 9:34 a.m. The GMP indicates that Corona Remedies could list at Rs 1,352 apiece on exchanges, which means a listing gain of 27.31%. Note that GMP does not represent official data and is based on speculation.
Financial Performance and Market Position
During the period from June 2022 to June 2025, Corona Remedies reported that its domestic sales grew at a Compound Annual Growth Rate (CAGR) of 16.77% compared to the IPM which grew at a CAGR of 9.21%.
According to the Crisil Intelligence Report, Corona Remedies is the second fastest growing firm among the top 30 companies in the Indian pharmaceutical market in terms of domestic sales performance from Moving Annual Total (MAT) in the same period.
Company Overview and Product Portfolio
Headquartered in Ahmedabad, Corona Remedies is a pharmaceutical formulation company engaged in developing, manufacturing, and marketing products in women’s healthcare, cardio-diabeto, pain management, urology, and other therapeutic areas.
Its diversified product portfolio comprises 67 brands catering to a range of therapeutic areas as of December 2024. For more information on pharmaceutical industry trends and how to invest in the sector, visit our website.
Investment Considerations and Next Steps
Before investing in the Corona Remedies IPO, it’s essential to consider your financial goals, risk tolerance, and investment horizon. You can also consult with a financial advisor or broker to get personalized advice.
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