GMP Suggestions on Monday's Corona Remedies Share Listing: They Indicate a Solid Beginning

The pharmaceutical giant Corona Remedies is all set for its initial public offering (IPO) on the stock exchange, and the crowd of investors is already eager. The grey market, where the stock was actively traded, has also taken notice of this company's share after the latter's initial public offering (IPO) saw an overwhelming demand of 144 times.

Market watchers say the shares have a grey market premium (GMP) of ₹291. As the IPO’s top price limit is ₹1,062, the approximate opening price comes to ₹1,353 per share which indicates a profit of almost 27.4%.

Though GMP is not a formal marker and can vary until the day of the listing, it always shows market feeling—and in this case, the feeling seems to be very positive.

IPO Subscription Details: Great Demand From All Investor Groups

The IPO of Corona Remedies, which was available to the public from December 8 to December 10, saw a tremendous interest coming from all the different categories of investors.

The subscription figures that reflect the demand are as follows:

Overall demand: 144.40 times

Institutional Investors (QIB): 293.80 times

Non-Institutional Investors (NII): 220 times

Retail Investors: 30.39 times

Employee Quota: 15.56 times

By way of an OFS (Offer-for-Sale), the company raised a total of ₹655.38 crore through the sale of 0.62 crore shares. As this is an OFS, the entire amount goes to the selling shareholders and not to the company.

The IPO allotment was:

35% for the retail investors

50% for the QIBs

15% for the NIIs

The strong subscription—especially from institutional investors—indicates the market's belief in the company's fundamentals and the potential for more growth in the long term.

Corona Remedies: A Bigger Player in the Pharma Market

The company, based in Gujarat, Corona Remedies, is involved in the development of various types of medication for the following therapeutic areas:

Women's health

Cardio-diabetes

Pain management

Urology

And others

The company has two manufacturing facilities, one in Gujarat and the other in Himachal Pradesh.

The financial performance has been good:

Net profit (Q1 FY26): ₹46.19 crore

Total profit (FY25): ₹149.43 crore

Revenue (Q2 FY26): ₹346.54 crore

Total revenue (FY25): ₹1,196.41 crore

These figures point to a continuous rise in sales and the company’s product range becoming increasingly popular.

Should You Consider GMP as a Reliable Indicator?

The GMP indicates a price rise of 25-28%, but the analysts warn the investors that:

GMP is a non-official indicator

Prices can vary quickly

The sentiment on listing day might be different

It is better for the investors to rely on fundamentals and seek professional advice before taking any decision.