Corona Remedies IPO subscribed 38% so far on Day 1: Check price band, lot size and more

Corona Remedies IPO: Pharma player Corona Remedies, which is backed by private equity firm ChrysCapital, has been subscribed 38% so far on the first day of bidding on Monday, December 8.

It received bids for 17,40,382 shares against 45,71,882 shares on offer, as per NSE data until 1:28 pm.

The non-institutional investors (NIIs) category received 42% subscription, while the quota for retail investors got subscribed 57%.

The company's ₹655.37 crore initial share sale, which is solely an offer for sale (OFS) by promoters and existing investors, will end on December 10.

Since it is entirely an OFS, the company will not get any proceeds from the IPO. The entire amount will go to selling shareholders.

With a price band of ₹1,008 to ₹1,062 per share, a lot consists of 14 shares.

Before the IPO, the company had mobilised ₹195 crore from anchor investors, including SBI Mutual Fund (MF), HDFC MF, Kotak MF, ICICI Prudential MF, Axis MF, DSP MF, Invesco MF and SBI Life Insurance Company.

Corona Remedies IPO timeline: Allotment and listing date

Corona Remedies IPO GMP

According to media reports and investorgain.com, unlisted shares of Corona Remedies are trading at ₹1,360, reflecting a grey market premium of 28.06% over the upper price band of ₹1,062.

About the company

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.

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) from June 2022 to June 2025.

During the period, the company's 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%.

JM Financial, IIFL Capital Services, and Kotak Mahindra Capital Company are the book-running lead managers to the issue.