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New Delhi: Pharma firm Corona Remedies, a book build issue of Rs 655.37 crore, will open for subscription on December 8, 2025 and close on 10th December. The issue is entirely an offer for sale of 0.62 crore shares of Rs 655.37 crore.
Corona Remedies IPO price band is set in the range of Rs 1008 to Rs 1062 per share. The retail investors are required to bid for a lot of 14 shares, for which a minimum amount of investment required is Rs 14,868. The investors applying in the NII category are 14 lots for which one has to invest Rs 2,08,152, bNII portion applicants are mandated to bid for 68 lots.
Corona Remedies IPO GMP stood at Rs 125 in the morning of December 3. With the price band of Rs 1062, the shares of the pharma company is estimated to be listed at Rs 1187 apiece, which indivcates a listing of nearly 12 percent, investorgain reported.
Pharma firm Corona Remedies is backed by private equity firm ChrysCapital. Anchor investors will be allocated shares on December 5.
Corona Remedies’ red herring prospectus filed with the SEBI, the company has revised its IPO size to Rs 655.37 crore, while earlier it had planned Rs 800 crore at the time of submitting draft papers in late April.
Investors including Sepia Investments, Anchor Partners and Sage Investment Trust and promoters have announced plans to offload shares under the OFS route. Since it's an OFS, the company will not receive any proceeds from the public issue and the entire amount will go to selling shareholders.
Corona Remedies, headquartered in Ahmedabad, is a pharmaceutical formulation company. The firm is engaged in the business of developing, manufacturing and marketing products in pain management, urology, women's healthcare, cardio-diabeto, and other therapeutic areas.
According to the Crisil Intelligence Report, Corona Remedies is the second fastest growing company among the top 30 companies in the Indian pharmaceutical market in terms of domestic sales performance from Moving Annual Total (MAT) June 2022 to June 2025.
The company has announced that 50 percent of the IPO is reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors.
JM Financial, IIFL Capital Services and Kotak Mahindra Capital Company are the book-running lead managers to the issue.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver and crypto assets.)
