Corona Remedies IPO Subscribed 32x on Day 3; NII Portion Soars to 107x, GMP Nears 25%
Corona Remedies IPO sees massive demand with 32x subscription on Day 3; NII 107x, strong GMP near 25% signals positive listing expectations.
Corona Remedies IPO surges with 32x subscription amid strong investor demand.
The initial public offering (IPO) of Corona Remedies continued to attract strong demand on the final day of bidding on December 10. The ₹655-crore issue has been subscribed nearly 32 times so far, reflecting exceptional investor interest.
As per NSE data at 12:30 pm, the IPO received bids for 14.49 crore shares against the 45.72 lakh shares on offer. The Non-Institutional Investor (NII) category led the surge with 107x subscription, while retail investors booked their quota 15x. The Qualified Institutional Buyers (QIB) segment also saw healthy participation at over 5x subscription.
GMP Nears 25% Ahead of Listing
In the grey market, Corona Remedies’ unlisted shares were trading at a 24.95% premium, according to Investorgain. IPO Watch reported a slightly higher 25.42% GMP, indicating positive sentiment before listing.
IPO Details
Corona Remedies’ IPO comprises a complete offer-for-sale, with no fresh issue component. The company aims to raise over ₹655 crore, with proceeds going entirely to existing shareholders.
Price Band: ₹1,008–₹1,062 per share
Minimum Lot Size: 14 shares (₹14,868 per lot)
Bidding Window: December 8–10
Allotment Date: December 11
Listing Date: December 15 (BSE & NSE)
Should Investors Apply?
Experts note that since the IPO is fully an OFS, investors should assess the company based on fundamentals such as margins, product portfolio strength, and growth consistency.
Analyst Siddharth Maurya said the company holds a solid presence in key therapeutic segments, although profits lag behind some competitors. He suggests viewing the IPO as a long-term pharma play rather than a quick-profit opportunity.
Brokerages such as Master Capital Services and Bonanza highlight Corona Remedies’ strong foothold in chronic and sub-chronic therapies, scalable distribution, and margin expansion potential—factors that could support long-term value.
Analyst Kalp Jain of INVasset PMS added that while the GMP reflects confidence, high implied valuations raise expectations for post-listing performance. Sustained gains will depend on margin delivery, product expansion, and execution consistency.
