Corona Remedies IPO Debuts Strongly with Nearly 38% Listing Premium

Corona Remedies made a robust debut on Dalal Street on Monday, December 15, with its shares listing at a hefty premium over the issue price. On the NSE, the stock opened at ₹1,470, marking a gain of 38.42% over the IPO price of ₹1,062, while on the BSE it listed at ₹1,452, up 36.72%. The strong listing reflected solid investor confidence in the Ahmedabad-based pharmaceutical company.

The IPO, which was open for subscription from December 8 to December 10, raised ₹655.37 crore through a complete offer-for-sale of 61.71 lakh equity shares. Priced in the band of ₹1,008–1,062 per share with a lot size of 14 shares, the issue saw massive demand, getting subscribed 137.04 times overall. Qualified institutional buyers led the charge with a 278.52 times subscription, followed by non-institutional investors at 208.88 times, while the retail portion was subscribed 28.73 times.

At the listing price, retail investors who were allotted one lot of 14 shares earned a profit of ₹5,712, while HNI investors made gains of nearly ₹80,000 on 14 lots. Ahead of the listing, the stock had commanded a grey market premium of ₹340–350, broadly in line with the actual debut. Incorporated in 2004, Corona Remedies operates across key therapeutic areas such as women’s healthcare, cardiology, pain management, and urology, with a portfolio of 71 brands and a strong pan-India presence.

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