- Corona Remedies IPO subscription closes Wednesday after 43.417 times oversubscription
- Non-Institutional Investors led demand, subscribing over 130 times to the IPO
- IPO price band set between Rs 1,008 and Rs 1,062 per share with 62 lakh shares offered
Corona Remedies Ltd. which launched its initial public offering (IPO) on Monday, December 8, will conclude its subscription period on Wednesday.
The IPO has been subscribed 108.28 times so far. The interest in the IPO was led by demand from Non-Institutional Investors who subscribed to the public issue over 195 times.
The grey market premium for the IPO was topping the 'Business and Finance' trending charts today, indicating strong investor demand.
The Ahmedabad-based pharmaceutical company develops, manufactures and markets products across multiple therapeutic segments, including women's health, cardiology, pain management, and urology.
With the three-day bidding coming to a close, here's all you need to know about the Corona Remedies IPO, including its latest grey market premium (GMP), offer size, price band, allotment date, listing date and other key details.
Corona Remedies IPO GMP Today
The last grey market premium (GMP) for the Corona Remedies IPO stood at Rs 325 on December 10. At the upper end of the price band of Rs 1,062, the latest GMP indicates an estimated listing price of Rs 1,387 per share, implying a 30.60% premium.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Corona Remedies IPO Key Details
The Corona Remedies IPO is 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 has been fixed at Rs 1,008 to Rs 1,062 per share. The minimum application lot size is 14 shares. Retail investors can participate in the subscription by applying for at least a single lot size, amounting to 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.
Corona Remedies IPO Allotment And Listing Date
The share allotment status for the Corona Remedies IPO is expected to be finalised 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 tentatively scheduled to be listed on the BSE and NSE on Monday, December 15.
Corona Remedies IPO: Use Of Proceeds
As this is an offer-for-sale (OFS), the company will not receive any proceeds from the IPO. The entire amount will go to the selling shareholders.
Corona Remedies Ltd. Business And Financials
Corona Remedies Ltd. was incorporated in August 2004. The company offers a diverse portfolio of 71 brands across therapeutic areas such as women's healthcare, cardio-diabetes, pain management, urology, and multispecialty pharmaceuticals, including vitamins, minerals, nutrition, gastrointestinal, and respiratory products. The company operates two manufacturing facilities, both located in Gujarat.
Financials
Corona Remedies Ltd. reported total income of Rs 1,202.35 crore for the financial year ended March 31, 2025, up 18% year-on-year from Rs 1,020.93 crore in the preceding fiscal. The company's profit after tax (PAT) rose sharply by 65% to Rs 149.43 crore in FY 2024-25 from Rs 90.5 crore in the previous financial year.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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