Corona Remedies IPO Listing Date, GMP Signals 25%+ Listing Pop For Investors

The share allotment status for the Corona Remedies IPO was completed on Thursday, December 11. The company is scheduled to initiate refunds on Friday, December 12. On the same day, shares will also be credited to the Demat accounts of successful bidders.

Shares of Corona Remedies Ltd. are expected to list on BSE and NSE on Monday, December 15.

Corona Remedies Ltd., which launched its initial public offering (IPO) on Monday, December 8, concluded its subscription period on Wednesday with a strong subscription. According to BSE, investors bid for 62,65,41,440 shares against the 45,71,882 on offer, subscribing 137.04 times on the final day of subscription.

Ahead of its listing, the grey market premium for the Corona Remedies IPO has dominated the 'Business and Finance' trending charts all week, signalling strong investor interest in estimating the share's expected debut price.

The IPO of Corona Remedies will list on the bourses (BSE and NSE) on Monday, December 15.

The last grey market premium (GMP) for the Corona Remedies IPO was Rs 291 on December 12. At the upper end of the price band of Rs 1,062, the latest GMP indicates an estimated listing price of Rs 1,354 per share.

This means the Corona Remedies' shares are expected to list at a 27.40% premium.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.

The Corona Remedies IPO was a book-built issue worth Rs 655.37 crore. The IPO is entirely an offer-for-sale (OFS) of 62 lakh shares.

The IPO price band was set at Rs 1,008 to Rs 1,062 per share. The minimum application lot size was 14 shares. Retail investors could participate in the subscription by applying for at least one lot, with a minimum investment of Rs 14,868 per application.

JM Financial Ltd. is the book-running lead manager for the issue. Bigshare Services Pvt. Ltd. is serving as the registrar.

The Ahmedabad-based pharmaceutical company develops, manufactures and markets products across multiple therapeutic segments, including women’s health, cardiology, pain management, and urology.