Corona Remedies IPO: What Does GMP Signal About Listing Pop?
The grey market premium for the Corona Remedies IPO suggests a 25%+ listing pop for investors.
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.
The interest in the IPO was led by demand from Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) who subscribed to the public issue 278.52 times and 208.88 times, respectively.
The grey market premium for the IPO has been topping the 'Business and Finance' trending charts for the entire week, indicating strong demand among the private market investors as well.
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), allotment date, listing date and how to check allotment status online.
Corona Remedies IPO GMP Today
The last grey market premium (GMP) for the Corona Remedies IPO was Rs 295 on December 11. At the upper end of the price band of Rs 1,062, the latest GMP indicates an estimated listing price of Rs 1,357 per share.
This means the Corona Remedies' shares are expected to list at a 27.78% 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 was set at Rs 1,008 to Rs 1,062 per share. The minimum application lot size was 14 shares. Retail investors were able to 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.
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.
