Corona Remedies IPO Opens For Subscription, Retail Investors Drive Demand - Should You Apply?

Corona Remedies IPO GMP: Corona Remedies’ initial public offering (IPO) opened for subscription on December 8, 2025. The three-day bidding window for the public issue is scheduled to close on December 10. The pharmaceutical company plans to raise Rs 655.37 crore through its public issue. Here’s a look at some key details related to the public issue:

Corona Remedies IPO GMP

Shares of Corona Remedies are trading with a grey market premium (GMP) of Rs 290 over the upper end of the issue price. Based on the GMP, the stock can potentially list with gains of over 27 per cent at Rs 1,352 apiece.

Corona Remedies IPO Subscription

Corona Remedies IPO is garnering decent demand on the first day of bidding, as the issue has been booked 25 per cent across categories. Investors have bid for 1.14 million shares so far compared to the 4.57 million shares offered for subscription. Retail investors are driving the demand for the company’s shares. So far, they have booked the issue 38 per cent by bidding for 861,280 shares compared to the 2.25 million shares set aside for them.

Non-institutional investors (NIIs) have applied for 255,458 shares on the first day of subscription against the 966,549 shares offered for subscription, booking their quota 26 per cent. As many as 1.28 million shares have been set aside for qualified institutional buyers (QIBs). Employees of the company have applied for 35,910 shares so far against the 61,320 shares set aside for them, booking their quota 59 per cent.

Corona Remedies IPO: Offer Size and Price Band

Corona Remedies’ Rs 655.37 crore fundraise consists entirely of an offer-for-sale (OFS) of 62 million shares. The price band for Corona Remedies IPO has been fixed at Rs 1,008-1,062 per share. Retail investors can apply for the pharmaceutical company’s public issue by placing bids for one lot consisting of 14 shares aggregating to a minimum investment of Rs 14,868.

Corona Remedies IPO: Subscription Window, Allotment Date, Listing Date

Following the closure of the bidding window, basis of allotment for Corona Remedies IPO is expected to be determined on December 11. Successful bidders will receive the shares in their demat accounts on December 12. Corona Remedies shares are slated to list on the BSE and NSE on December 15.

Corona Remedies IPO: Key Financials

In the quarter ending June 30, 2025, Corona Remedies posted a total income of Rs 348.56 crore, the pharma company’s profit-after-tax (PAT) stood at Rs 46.20 crore and net worth stood at Rs 607.02 crore.

Corona Remedies’ total income increased by over 17 per cent to Rs 1,202.35 crore in the financial year ending March 31, 2025 compared to Rs 1,020.93 crore in the preceding fiscal. The company posted a net profit of Rs 149.43 crore in FY 2024-25, up by over 65 per cent compared to a net profit of Rs 90.5 crore in the preceding fiscal.

Corona Remedies: Business Model

Corona Remedies is an India-focused pharmaceutical company which is engaged in developing, manufacturing and marketing products in domains, such as women’s healthcare, cardio-diabetes, pain management, urology and other therapeutic areas. The company’s product portfolio consists of 71 brands. The company generates revenue through its product sales to various buyers.

Corona Remedies: Competitors

Corona Remedies functions within the Indian pharmaceutical market and competes with other companies in the same domain, including specialty pharmaceutical drug companies and generic drug companies. According to the Red Herring Prospectus of the company, a competitor is defined as any entity which generates 50 per cent of its revenue in India from the sale of domestic pharmaceutical formulations and whose annual revenues from the sale of domestic pharmaceutical formulations exceed Rs 500 crore. Some of the company’s listed competitors include Abbott India, Alkem Labs, Eris Lifesciences, GlaxoSmithKline Pharmaceuticals, J.B. Chemicals & Pharmaceuticals, Mankind Pharma, Pfizer, Sanofi India and Torrent Pharma.

Corona Remedies IPO: Should You Apply?

Here’s a look at the strengths and risks mentioned by the pharmaceutical company which investors must consider before applying for the public issue.

Corona Remedies: Key Risks

Here’s a look at some of the key risks related to Corona Remedies’ business according to the company’s RHP.

• The pharma company mentioned in its RHP that its sales of pharmaceutical goods in the women’s healthcare, cardio-diabeto and pain management segments contributed to 65.14 per cent and 62.4 per cent of the company’s revenue from operations for the three months ending June 30, 2025, and the FY 2025, respectively. Thus, if the products in these segments do not perform as expected, the results of operations of the company may be adversely affected.

• The company mentioned in the RHP that a significant portion of its domestic sales are concentrated in the states of Gujarat, Maharashtra, Chhattisgarh, Goa and Madhya Pradesh. Thus, any adverse developments in these regions can negatively impact the company’s business.

• The company added that it does not maintain product liability insurance and may be subject to product liability claims and other adverse developments, which could adversely affect its results of operations.

Corona Remedies : Key Strengths

Here’s a look at some of the key strengths of Corona Remedies according to the company’s RHP.

• Corona Remedies claimed in its RHP that it is the second fastest growing company within the top 30 pharmaceutical companies in the Indian pharmaceutical market in terms of domestic sales between MAT June 2022 and MAT June 2025.

• The company claims to have a pan-India sales network and marketing strategy focused on the “middle of the pyramid” target market. The "middle of the pyramid" target market strategy seeks to cater to the large and growing segment of patients and prescribing doctors in urban and semi-urban areas who seek quality, branded, yet cost-effective medications.

• The company claims to have quality control and current Good Manufacturing Practices-focused manufacturing facilities, with strong research and development capabilities. The company operates two manufacturing facilities in Gujarat and Himachal Pradesh.

Corona Remedies IPO: Objective

Corona Remedies will not receive the proceeds of the public issue and they will go directly to the selling shareholders. However, the pharma company does plan to achieve the benefits of listing of its shares on the exchanges.