Corona Remedies’ initial public offering (IPO) opened for subscription on December 8 and will close on December 10. The IPO is priced between ₹1,008 and ₹1,062 per share, with retail investors required to apply for a minimum of one lot of 14 shares, costing ₹14,868 at the upper band. Bids can be made in multiples of 14 shares. The ₹655.37 crore issue is a pure offer for sale (OFS), with existing shareholders including Sepia Investments, Anchor Partners, and Sage Investment Trust selling 0.62 crore shares. The company will not receive any proceeds. Basis of allotment is expected on December 11, with shares credited and refunds processed on December 12. Listing is scheduled on BSE and NSE on December 15. Prior to the IPO, the company raised ₹194.85 crore from 15 anchor investors, including SBI MF, ICICI Prudential MF, Kotak AMC, and Axis MF. Of the issue, 35% is for retail, 50% for qualified institutional buyers, and 15% for non-institutional investors. The grey market premium rose to ₹298, suggesting a likely 28% premium listing. Anand Rathi rated the IPO “Subscribe for long term,” citing strong growth prospects, robust therapy leadership, and sustained above-industry performance, despite a P/E of 35.3 times.
Corona Remedies IPO Day 1
