Corona Remedies Shares Debut At 38% Premium Over IPO Price

Corona Remedies Ltd. listed on the National Stock Exchange on Monday at Rs 1,470 apiece, a premium of 38.42% over its issue price of Rs 1,470 apiece.

On the BSE, the stock debuted at Rs 1,452, a 36.72% premium.

The company’s IPO, worth Rs 655.37 crore, is entirely an offer-for-sale of 62 lakh shares. The price band for the Corona Remedies IPO has been fixed at Rs 1,008 to Rs 1,062 per share.

A single lot size for the IPO comprises 14 shares. Retail investors are required to apply for at least a single lot size, amounting to an investment of Rs 14,868 per application based on the upper end of the issue price.

The company reported a profit of Rs 46.2 crore on revenue of Rs 346.5 crore for the quarter ended June 2025. For FY25, profit rose 65.1% to Rs 149.4 crore from Rs 90.5 crore the previous year, while revenue increased 18% to Rs 1,196.4 crore from Rs 1,014.5 crore.

JM Financial, IIFL Capital Services and Kotak Mahindra Capital Company are the merchant bankers for the IPO.

Corona Remedies is viewed quite favourably by most brokerages. As an Indian-focused branded formulations company, Corona has garnered a 'subscribe' rating from both Canara Bank Securities and Swastika Investmart.

These firms have highlighted company's robust financial health, with an impressive revenue CAGR of 16.8% between 2022 and 2025. This is nearly double the industry growth.

Moreover, Corona Remedies' PAT has soared 65% to Rs 149 crore in FY25, while the Ebitda margin has expanded to over 20%, indicating strong operational efficiency.

Although the price to earnings of 43x at the upper price band of Rs 1,062 is considered expensive by many, analysts argue that the company's superior growth compared to the industry, coupled with a strong operational efficiency justifies that valuation.

Capital Markets, meanwhile, has added a 'may apply' view to Corona Remedies, citing low exposure to price-controlled medicines (NLEM) as a key advantage.