Corona Remedies IPO Day 2 LIVE: Issue Subscribed 8.55x; GMP Hints at 24% Listing Gains — Should You Apply?
Corona Remedies IPO Day 2 LIVE: Subscription hikes to 8.55x as GMP indicates 24% listing gains. View key details, financials, expert opinions, and if you should apply.
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The Corona Remedies IPO day-two has a hefty momentum with the issue subscribed a whopping 8.55 times already. The grey market price is also stable suggesting the listing gain will be between 24% to 27% if such trend persists. Below is today’s (9 December 2025) simplified, reader-friendly, and engaging breakdown of everything happening with the IPO.
IPO Overview: ₹655 Crore Offer for Sale
The IPO of Corona Remedies commenced on December 8 and is scheduled to close on December 10.
Through the sale of 61.71 lakh equity shares, the company is targeting ₹655.37 crore, which is to be raised entirely through an offer for sale (OFS). The issue will not see any new shares but all the proceeds will go to the shareholders selling their stake.
Price Band: ₹1,008–₹1,062
Lot Size: 14 shares
Minimum Investment: ₹14,868 (Retail)
Listing Date: December 15
Exchanges: BSE and NSE
Lead Manager: JM Financial
Registrar: Bigshare Services
Day 2 Subscription Status (4:30 PM update)
The IPO has experienced a significant increase in demand:
Total Subscription: 8.55x
QIBs: 0.81x
NIIs: 16.84x
Retail: 5.29x
Employees: 3.43x
The major push has come from HNI/NII investors who are almost 17 times oversubscribed on their part.
Grey Market Premium (GMP): Signals Strong Debut
The GMP of Corona Remedies IPO today is ₹290 per equity share.
Thus, the stock is around ₹1,352 in the grey market — which is a 27% premium over the upper price band of ₹1,062.
Such very high premium signals that market participants are expecting a very strong upward movement on the listing day.
What Does Corona Remedies Do?
Corona Remedies is a pharmaceutical company which is fast growing and has a strong footprint in Women's healthcare, Cardiology, Diabetes & Chronic care, Pain management, and Urology. Corono Remedies gets nearly 70% of its revenue from chronic therapies which are usually associated with high margins and long-term prescription stickiness.
Manufacturing Strength
The company has:
2 manufacturing units in Gujarat & Himachal Pradesh
A hormone manufacturing unit under development in Gujarat (expecting to commence operations in FY27)
The planned capacity consists of:
1.25 billion formulation units
20 million sachets
10 million bottles
11 production lines
Financial Performance: Growing Steadily
FY23 to FY25 data shows:
Revenue growth at 16% CAGR
EBITDA growth at 37% CAGR
PAT growth at 33% CAGR
Return ratios (FY25):
ROE: 24.6%
ROCE: 30.1%
This is very convincing for a medium-sized pharma player.
Analyst Recommendations: Mostly Positive
Subscribe for Long Term — Choice Broking
Says valuations are fully priced but supported by strong long-term prospects and chronic revenue focus.
Subscribe — BP Equities
Casts spotlight on the sale of robust financials, rising market share, and strong growth in chronic/sub-chronic therapies.
Subscribe — Geojit Financial Services
Cites performance resilience, solid balance sheet, and enriching chronic portfolio.
Subscribe — Nirmal Bang
Thinks valuations are attractive compared to the peers, given the high margins and growth visibility.
Industry Tailwinds Support Upside
The Indian pharma formulation market is expected to rise from:
₹2.3 trillion (FY25) → ₹3.3–3.5 trillion by FY30
CAGR: 8–9%
The demand will be increasing due to the rise in chronic diseases, the higher healthcare budget, and the strong prescription-led models.
Should You Apply for Corona Remedies IPO?
Here’s the simplified takeaway:
✔ Strong GMP (₹290) = high probability of listing gain
✔ Strong demand for chronic therapies
✔ Excellent return ratios
✔ Good financial performance
✔ Supported by top brokers with “Subscribe” calls
✘ Whole OFS — firm does not receive any fresh capital
✘ Valuation on the higher side a bit
Verdict:
If you are after listing gains, the GMP trend is a good sign.
The long-term investor's case is also supported; the company’s strong position in chronic care and increasing market share make it a robust contender.
