Corona Remedies IPO Opens: GMP, Subscription, Key Dates & Expert View — Should You Subscribe?
Corona Remedies’ ₹655 crore IPO opens with strong GMP and high investor interest; allotment on Dec 11 and listing on Dec 15. Should you subscribe?
Corona Remedies IPO opens with strong demand; investors track GMP, subscription status, and key listing dates.
Pharma company Corona Remedies opened its ₹655.37 crore IPO for public subscription on December 8, with the issue set to close on December 10. The public offer is a pure offer-for-sale (OFS) of 0.62 crore shares, meaning the company will not receive any fresh capital. The price band has been fixed at ₹1,008–₹1,062 per share.
Retail investors can apply for a minimum of one lot (14 shares), requiring an investment of ₹14,868 at the upper band. The issue will be listed on the BSE and NSE on December 15.
Ahead of the IPO, Corona Remedies secured ₹194.85 crore from 15 institutional investors through the anchor book, including SBI MF, ICICI Prudential MF, Kotak AMC and Axis MF.
The issue reserves 50% for QIBs, 15% for NIIs, and 35% for retail investors. JM Financial, IIFL Capital and Kotak Capital are the book-running lead managers, while Bigshare Services is the registrar.
GMP Trends
On December 8, the IPO’s grey market premium (GMP) stood at ₹290, indicating a possible listing at ₹1,352, a premium of 27.31% over the upper band price.
Allotment & Listing Schedule
Allotment finalisation: December 11
Refunds & share credit: December 12
Listing date: December 15
Should You Subscribe?
Brokerage Anand Rathi has given the issue a “Subscribe for long term” rating. It believes Corona Remedies is positioned for sustained outperformance, backed by a strong brand portfolio, leadership in chronic and sub-chronic therapies, and consistent execution. With a 16.77% CAGR, the company ranks as the second fastest-growing among India’s top 30 pharma players.
