Corona Remedies IPO GMP Day 1, Subscription Status Live Updates: The initial public offering of Corona Remedies kicked off today, marking the first day of bidding for the Rs 655 crore issue. Investors now have a window until December 10 to place their bids, as the pharmaceutical company seeks to sell a portion of its existing stake to the public.
IPO size and structure
Corona Remedies’ IPO is structured entirely as an offer for sale, meaning the company is not raising fresh capital. A total of 0.62 crore shares are being offered by existing shareholders. This values the issue at Rs 655.37 crore. The company raised Rs 194.85 crore in the anchor round from 15 participants, including names like SBI Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra AMC, and Axis Mutual Fund.
| Corona Remedies IPO | Key Details |
| Price Band | Rs 1,008-1,062 each |
| IPO Date | December 8-10 |
| GMP | 27% |
| IPO Allotment date | December 11 |
| Listing date | December 15 |
Price band and lot size
The shares are priced in a band of Rs 1,008-1,062 each. Retail investors can apply for a minimum of one lot, consisting of 14 shares, which translates to an investment of Rs 14,868 at the upper end of the price band. Investors can place bids in multiples of 14 shares beyond the minimum lot.
Book running lead managers and registrar
JM Financial, IIFL Capital, and Kotak Capital are managing the IPO as book-running lead managers, while Bigshare Services has been appointed as the registrar. The allotment process will follow after the close of bidding, and investors will be able to track refunds and demat credits once the allotment is finalised.
Corona Remedies IPO Opens for Subscription Live: Follow Live Coverage on Corona Remedies IPO GMP, Subscription Status, Allotment, Listing Date and More
Corona Remedies IPO Subscription Status, GMP Live: Anand Rathi Research take on this IPO
“On the valuation front, Based on annualized FY26 earnings, the company is seeking a P/E of 35.3 times, and a post-issue market capitalization of approximately Rs 64,952 million, making the issue appears to be fully priced. We believe the company enters the next phase of growth with high-visibility revenue drivers, differentiated capabilities, and a robust pipeline, positioning it for sustained market share gains and long-term value creation. Hence, we assign Subscribe for long term only rating for the issue,” said Anand Rathi Research in its IPO note.
Corona Remedies IPO Subscription Status, GMP Live: Investor allocation and subscription
The IPO allocation is divided across investor categories, with 35% of shares reserved for retail investors, 50% for qualified institutional buyers, and 15% for non-institutional investors. The subscription trends from today’s first day of bidding will provide early indications of investor interest and appetite for the issue.