Corona Remedies IPO GMP Crashes Over 34% As Issue Enters Day 2 – Check Latest Subscription Status

Corona Remedies IPO GMP: The initial public offering (IPO) of women’s healthcare company Corona Remedies entered its second day of bidding on December 9. The issue saw a tepid response on its opening day as it attracted bids for 2.81 million shares against 4.57 million shares on offer, translating into a 62 per cent subscription.

The retail investor segment led the subscription, booking 87 per cent of their quota. The non-institutional investor (NII) category was subscribed 79 per cent, while the qualified institutional buyers (QIB) portion remained untouched on Day 1.

Meanwhile, sentiment in the unofficial market has weakened. The company’s grey market premium (GMP) in the unlisted space has crashed by over 34 per cent in the last five days.

Corona Remedies IPO Subscription Status: Day 2

In the first hour of bidding on Day 2, the Corona Remedies IPO was subscribed 1.70 times overall. The retail portion was subscribed 1.99 times, while the NII category saw 3.27 times bids. The QIB segment, however, drew only 0.02 times subscription so far.

The employee quota, which carries a five per cent discount, was subscribed 1.96 times in early trade.

Corona Remedies IPO Details

Issue Size: Corona Remedies is looking to raise Rs 655.37 crore through its IPO, which consists entirely of an offer for sale of 6.17 million shares.

Of the total issue size, 3.05 million shares or 49.53 per cent have been allocated to QIBs. Another 1.22 million shares or 19.80 per cent are reserved for the QIB portion excluding anchor investors. NIIs have been offered 9,16,960 shares or 14.86 per cent, while retail investors have been allotted 2.14 million shares or 34.67 per cent. Anchor investors were allotted 1.83 million shares or 29.73 per cent ahead of the opening of subscription window.

Price Band, Lot Size, Minimum Investment: The company is offering its shares with a price band of Rs 1,008 to Rs 1,062 per share, in lot size of 14 shares. Retail investors are therefore required to invest a minimum amount of Rs 14,868, based on the upper end of the price band.

Allotment, Listing Dates: The company is expected to finalise share allotment on December 11, and refunds and credit of shares to demat accounts are likely to take place the next day, December 12. The stock is expected to list on both the exchanges NSE and BSE on December 15.

Objective: Since the IPO is an offer for sale, the company will not receive any funds from the issue. The proceeds will go to the selling shareholders after deducting expenses and applicable taxes. The company, in its red herring prospectus (RHP), said the listing will improve its visibility and provide liquidity to existing shareholders by creating a public market for its shares.

Corona Remedies IPO GMP Today

Corona Remedies IPO GMP stood at Rs 240 per share over the issue price, according to website that track grey market trades, as of 11:00 AM on December 9.

The GMP has fallen from a peak of Rs 365 on December 5 to the current level, logging a decline of 34.25 per cent.

Given the current GMP and the upper end of the issue price, Rs 1,062 apiece, Corona Remedies shares are expected to list at Rs 1,302 per share, representing a potential listing gain of 22.60 per cent.

Corona Remedies: Company Profile

Founded in 2004, Corona Remedies is a pharma company with a strong focus on women’s health, along with cardiology, pain management and urology. As of June 2025, it offered around 71 brands and has a nationwide field force of more than 2,600 medical representatives. The company runs two manufacturing units in Gujarat with a combined annual capacity of about 1.28 billion formulation units.