Corona Remedies IPO: 67% subscription; GMP strong | Right for you?

Kolkata: Corona Remedies IPO recorded an overall subscription of 0.67 times overall on the first day of bidding -- 0.96 times in the retail category, 0.00 times in QIB (Ex Anchor) category and 0.84 times in the NII category. Corona Remedies IPO intends to mop up Rs 655.37 crore through only 0.62 crore OFS shares aggregating to Rs 655.37 crore. Pharma firm Corona Remedies has mopped up Rs 195 crore from anchor investors, which included 17 funds such as SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Kotak MF, Axis MF, Invesco MF, DSP MF and SBI Life Insurance Company. A total of 18.36 lakh shares were placed to anchor investors at Rs 1,062 per share.

Corona Remedies is engaged in developing, manufacturing and marketing products in women's healthcare, cardio-diabeto, pain management, urology and other therapeutic areas. Crisil Intelligence Report states that the company is the second-fastest growing firm among the top 30 companies in India in terms of domestic sales performance from Moving Annual Total in the period between June 2022 to June 2025.

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According to investorgain, Corona Remedies IPO GMP stood at Rs 262 at the end of Dec 8. The issue has an upper end of the price band of Rs ed 1062 a,d therefore, the listing gain estimated at this level is 24.67%. The GMP, in fact, was at a higher level earlier -- Rs 365 on Dec 5. However, it must be noted that GMP is an unofficial indicator, is extremely volatile and cannot guarantee any level of listing gain (o loss).

The Corona Remedies IPO price band has been set at Rs 1008-1062. The smallest investible lot for a retail investor 14 shares which calls for an application money of Rs 14,868 and the calculation is based on the upper price of the band. The minimum lot size investment for sNII investor is 196 shares, while for bNII investors the smallest lot size is 952 shares. JM Financial is the book running lead manager to the IPO. Bigshare Services has been appointed the registrar of the issue. Listing will take place in both BSE and NSE.

IPO closes: Dec 10, 2025

Cut-off time for UPI mandate confirmation: 5 pm on Dec 10

Allotment: Dec 11

Refund: Dec 12

Credit of shares to demat: Dec 12

Listing: Dec 15