Corona Remedies IPO: Price, GMP, Dates, Lot Size & Review

Corona Remedies Ltd is launching a Mainboard IPO that has drawn strong attention from investors thanks to its branded generics portfolio, fast growth, and upbeat grey market premium signals. This detailed article walks through all key aspects of the issue, including IPO dates, price band, GMP, issue size, anchor investors, merchant bankers, allotment timeline, listing date, and an overall review for potential investors.​

Company overview

Corona Remedies Ltd is a Gujarat‑based pharmaceutical company focused on branded formulations across chronic and acute therapies such as cardiology, diabetology, neurology, gastro, and respiratory segments. The company primarily operates in the domestic market with a strong presence in prescription‑driven brands promoted through a wide medical representative network. Over recent years, Corona has reported consistent growth in revenue and profitability, supported by product diversification and expansion into high‑margin segments within India’s growing pharma market.​

Corona Remedies Limited was founded in August 2004 and is one of the top pharmaceutical firms that makes and sells medications for women’s health, heart care, pain relief, urology, and other therapies. The survey says that Corona Remedies is the second biggest company in the Indian Pharmaceutical Market (IPM), along with 30 other companies. As of December 31, 2024, the corporation also has 88 R&D staff.

As of December 2024, the company sells 67 products in a range of therapeutic categories, such as women’s health, cardio-diabetes, pain management, urology, and multispecialty medicines (covering vitamins, minerals, nutrition, gastrointestinal, and respiratory). The business has a presence all over India, with 2,598 medical agents in 22 states. It has two factories in the state of Gujarat.

Corona Remedies IPO dates and timeline

The Corona Remedies Mainboard IPO follows a standard three‑day book‑building window with a typical post‑issue listing cycle on Indian exchanges.​

• IPO Open Date: 8 December 2025

• IPO Close Date: 10 December 2025

• Anchor Investor Bidding: 5 December 2025

• Basis of Allotment (Finalization): 11 December 2025

• Initiation of Refunds: 12 December 2025

• Credit of Shares to Demat: 12 December 2025

• Listing Date (BSE & NSE): 15 December 2025​

Investors must ensure their applications are submitted before the cut‑off time on the final bidding day, which is typically 5 PM for UPI‑based applications.​

IPO price band, lot size and issue structure

The IPO is a pure offer for sale (OFS), meaning the company will not receive fresh capital and all proceeds go to existing shareholders offloading part of their stake.​

• Price Band: ₹1,008 – ₹1,062 per share

• Face Value: ₹10 per equity share

• Lot Size: 14 shares per lot; applications must be in multiples of 14 shares

• Issue Size: About ₹655.37 crore, entirely OFS of roughly 0.62 crore shares​

The allocation structure follows the usual Mainboard pattern: up to 50% for Qualified Institutional Buyers (QIBs), at least 35% for retail individual investors, and the remaining 15% for Non‑Institutional Investors (HNIs), with sub‑buckets for different application sizes.​

Reservation Structure

Corona Remedies IPO Market Lot

Grey Market Premium (GMP) and implied listing gains

Grey Market Premium is an unofficial indicator of demand for the IPO before listing and is widely tracked by short‑term participants.​

• Recent data shows Corona Remedies IPO GMP around ₹290 per share, over the upper price band of ₹1,062.​

• This translates to an indicative listing price near ₹1,350–₹1,400, implying potential listing gains of about 27–30% if sentiment sustains.​

Different tracking platforms have reported GMP in the 27–35% range over the days leading to the issue, reflecting healthy but not euphoric demand. However, GMP is highly volatile, not regulated, and should be treated only as a sentiment gauge rather than a guarantee of post‑listing performance.​

Issue size and utilization context

Since the issue is 100% OFS, the ₹655‑plus crore raised will primarily be used to provide an exit or partial exit to existing shareholders, including promoters and financial investors such as Sepia Investments (a ChrysCapital arm) and other selling stakeholders. The company’s balance sheet will not directly receive fresh funds, so investors should evaluate the IPO largely on business strength, valuation, and future earnings potential rather than near‑term deleveraging or capex funding from IPO proceeds.​

Promoters Holding Pattern

Corona Remedies Financial Statement

Valuation Report

Peer Comparison

Anchor investors and pre‑IPO confidence

Ahead of the public issue opening, Corona Remedies placed shares with institutional investors via an anchor book, which is often seen as a sign of institutional confidence.​

• The company raised nearly ₹195 crore from about 15 anchor investors, allocating roughly 18.3 lakh shares at the upper price band of ₹1,062.​

• The anchor list reportedly includes a mix of domestic mutual funds and foreign portfolio investors, signalling interest from both local and global institutions in the company’s growth story.​

Anchor participation does not guarantee listing performance, but it can help build market confidence and support price stability during the early trading sessions.​

Book‑running lead managers and registrar

Reputed intermediaries are associated with the issue, which is another positive for investors tracking execution quality.​

• Book‑Running Lead Managers (Merchant Bankers):

  • Kotak Mahindra Capital Company Ltd

  • IIFL Capital Services Ltd

  • JM Financial Ltd​

• Registrar to the Issue:

  • Bigshare Services Pvt Ltd​

These entities handle due diligence, marketing, book‑building, allotment.

Company Address

Corona Remedies Ltd.
CORONA House, C – Mondeal Business Park
Near Gurudwara S. G. Highway
Thaltej
Ahmedabad, Gujarat, 380059
Phone: +91 79 4023 3000
Email: complianceofficer@coronaremedies.com
Website: https://www.coronaremedies.com/

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Nadim

Mr. Nadim Abbas M G is an Intermediate Chartered Accountant with a strong background in Information Technology. He combines his expertise in IT with a deep understanding of the stock market, making him a valuable resource for both financial and technical insights. With hands-on experience in accounting, IT systems, and stock market analysis, Nadim excels in bridging the gap between finance and technology, offering strategic advice and expert guidance in both domains.