Corona Remedies IPO in focus: The IPO of Corona Remedies has witnessed a sharp rise in investor interest, especially from institutional participants, during the final day of bidding, which pushed the subscription rate to over 144 times.
The issue, which opened on Monday, December 08, closed today, and during the three-day bidding period, it attracted bids for 62.67 crore shares against over 43.36 lakh shares on offer, resulting in a subscription rate of 144.4 times, as per exchange data.
The qualified institutional buyer (QIB) segment saw a strong spike in demand, with the quota being subscribed 293.80 times, while the non-institutional investor (NII) portion was subscribed 220 times, and the retail investor portion was subscribed 30.39 times. The employee quota was also subscribed by 15.56 times.
Corona Remedies IPO Details
Corona Remedies IPO, worth ₹655.38 crore, is priced in the range of ₹1,008-1,062 per equity share, which is entirely an offer for sale of 0.62 crore shares.
The basis of allotment is expected to be finalised on Thursday, December 11. Successful bidders are likely to receive shares in their demat accounts on Friday, December 12, and refunds for non-allottees will also be processed the same day. The stock is slated to list on BSE and NSE on Monday, December 15.
The issue has allocated 35% of shares for retail investors, 50% for qualified institutional buyers (QIBs), and 15% for non-institutional investors (NIIs). JM Financial, IIFL Capital, and Kotak Capital are acting as the book-running lead managers, while Bigshare Services serves as the registrar.
Corona Remedies IPO GMP
Investor interest appears upbeat, with the grey market premium (GMP) at ₹262 on December 11. This premium implies a potential listing price of around ₹1,324, signalling a 25% upside over the upper IPO price of ₹1,062.
The grey market premium reflects the additional price investors are willing to pay over the official issue price.
About Corona Remedies
Corona Remedies, headquartered in Gujarat, operates as a pharmaceutical manufacturer with offerings across women’s health, cardio-diabetes, pain management, urology, and several additional therapeutic categories. The company runs two manufacturing facilities, one located in Gujarat and the other in Himachal Pradesh.
According to the RHP, the company reported a net profit of ₹46.19 crore for Q1 FY26, following a full-year net profit of ₹149.43 crore in FY25. Revenue from core operations reached ₹346.54 crore in the second quarter of FY26, while total revenue for FY25 stood at ₹1,196.41 crore.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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