Corona Remedies Makes Powerful Stock Market Entry With 38% Jump

On Monday, the stocks of Corona Remedies were listed on the Indian stock exchanges, and the price opened with a big jump in relation to the issue price, indicating the strong demand during the public offering. The pharmaceutical firm thus registered its presence on both the NSE and the BSE at figures that were considerably higher than the IPO price of Rs 1,062 per share.

The company was listed with the opening price of Rs 1,470 on the National Stock Exchange which gave an investor a gain of almost 38 percent. The shares listed on the BSE at Rs 1,452 which was the price about 37 percent high over the IPO. The launch more or less matched the expectations that arose from the grey market trends prior to listing.

Close of last week saw the company issuing an initial public offering that was totally an offer for sale of approximately 0.62 crore equity shares. From the IPO, Corona Remedies raised a total of ₹655.37 crores (approximately $89 million). Since there was zero fresh issue-therefore the dilution was solely for the benefit of existing investors who sold off part of their shares.

The subscription for the IPO opened on December 8 and closed on December 10. The allotment was done on the 11th of December followed by refunds as well as the shares credited to the demat accounts. The allotment and other processes were managed by the registrar Link Intime for the issue.

Prior to the listing, the unlisted shares of the company gave a return of approximately 32 percent in the unofficial market, which was a signal of the strong demand for the shares from the investors. Prices on the first day of trading opened near the said estimates.

The share price of Corona Remedies was set at Rs 1,062 per share, falling within a price range of Rs 1,008 to Rs 1,062. The offer also had a small set-aside for employees, who could then apply at a discount of Rs 54 per share to the issue price.

Kotak Mahindra Capital Company was the lead manager of the IPO and was responsible for designing the issue and institutional participation coordinating throughout the entire process.

The initial plan was to establish Corona Remedies as a brand pharmaceutical formulation company, but its main focus still remains on the local market. The variety of products that the company offers includes women’s health, cardio-diabetes, pain relief, urology, and certain multispecialty fields. The firm has a wide range of more than 70 brands in these therapy areas.

Lately, the firm has been enjoying quicker growth than the whole Indian pharmaceutical market. The period between June 2022 and June 2025 saw the domestic market attaining a compound annual growth rate of about 16.8 percent, which was significantly more than the industry average for that period. The success of this growth can be attributed to the launch of new products and increasing interactions with specialized doctors.

Corona Remedies has two manufacturing plants, one in Gujarat and the other in Himachal Pradesh. They are capable of producing medicines in various forms such as tablets, capsules, syrups, sachets, and drops, and the Gujarat plant also has a hormone production unit which is expected to be operational in the first quarter of FY27.

Despite the company mainly concentrating on India, it has slowly but steadily been increasing its international presence. The products can be found in over 20 foreign markets, which include the UAE, Uzbekistan, the Philippines, Kenya, and Cyprus. The company's Indian plants have obtained EU GMP and WHO certifications, thus supporting the overseas strategy.

Choice Broking, a brokerage company, in its IPO note, highlighted that the firm would benefit from improved scale and thus, increased ranking in the domestic pharmaceutical market following recent acquisitions. Besides, Inventory was said to be fully priced but the broker still remained confident that the combination of long-term growth visibility and business sustainability led to a long-term investment view.

Having successfully established a strong market presence, the investors will probably start concentrating on the company’s performance after listing, the implementation of the growth plans and trends in margins during the upcoming quarters.