Corona Remedies IPO GMP Day 1, Subscription Status Highlights: This is the last chance to bid for the initial public offering of Corona Remedies. The issue kicked off subscription on December 08, marking the first day of bidding for the Rs 655 crore issue. 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 Subscription Status, GMP Live: GMP update
Corona Remedies IPO’s grey market premium (GMP) stands at ₹319, as per the latest update on December 10, 2025, at 07:02 PM. With a price band of ₹1,062, the IPO’s estimated listing price is projected at ₹1,381 (cap price + current GMP). This translates to an expected gain of 30.04% per share.
Corona Remedies IPO Subscription Status, GMP Live: Strong growth driven by robust sales and improved operational efficiency
Corona Remedies Ltd. reported an 18% increase in revenue and a 65% jump in profit after tax (PAT) for the financial year ending March 31, 2025, compared to the previous year. The company attributed the surge to higher sales across key product segments and enhanced operational efficiencies that helped boost profitability.
Corona Remedies IPO Subscription Status, GMP Live: Latest Subscription update
Here is the latest subscription numbers from Corona Remedies –
-The overall IPO subscription is at 137.04x
-The retail segment has been subscribed 28.73x
-The QIB subscription is at 278.52x
-NIIs subscribed the issue 208.88x
-Employee segment subscribed 14.72x
The subscription numbers were updated at 6:24 pm .
Corona Remedies IPO Subscription Status, GMP Live: High dependency on dialysis sector
For FY25, the company generated 99% of its income from dialysis and related services aggregating to nearly Rs 748.3 crore. This indicates a high dependency on this segment which may pose a challenge for the company. Any disruptions in this sector may hamper the company's financial conditions.
Corona Remedies IPO Subscription Status, GMP Live: Deven Choksey outlook for Corona Remedies
Between FY23-25 , the revenue grew at a compounded annual growth rate (CAGR) of 18%. The company is targeting revenue CAGR of 20% in the next 2-3 years by undertaking 15-20 new launches every year. In terms of capacity, it has expanded the Bhayla hormones facility. As a long-term strategy, it will enter the exports market and increase its revenue contribution to 5% by FY28., Deven Choksey Research said in its report.
Corona Remedies IPO Subscription Status, GMP Live: Tentative allotment dates
The allotment of shares and initiation of refunds is expected to be done by December 11. Further, shares are likely to be credited to the demat account of the bidders by December 12 and Corona Remedies will get listed on NSE and BSE by December 15.
Corona Remedies IPO Subscription Status, GMP Live: GMP trending up
As per the latest update, the company's shares are trading in the unlisted markets at Rs 1, 387, indicating a premium of nearly 31% on the upper price band of the shares.
However, it is important to note that GMP is an unofficial metric to determine the listing price of the shares. It varies based on market moods and sentiments.
Corona Remedies IPO Subscription Status, GMP Live: Financial results for H1FY26
For H1FY26, the company's revenue from operations stood at Rs 473.5 crore, while its operating expenses for the same period stood at Rs 362 crore. The company generated a profit of Rs 14.2 crore for the first six months of 2025.
Here is the latest subscription numbers from Corona Remedies -
-The overall IPO subscription is at 41.89x
-The retail segment has been subscribed 18.51x
-The QIB subscription is at 15.79x
-NIIs subscribed the issye 133.25x
The subscription numbers were updated at 1 pm .
At the upper end of the price bank, the Corona Remedies IPO is valued at 43.5x based on FY25 EPS od 24.40. At the current moment, about 70% of the revenue is derived from the high margin chronic therapies segment.
According to Deven Choksey Research, "the company has undertaken recent acquisitions like Myoril from Sanofi and Spye from Bayer. It is bolstering its gynaecology and cardiology portfolio and executed a partnership with Ferring for Solifenacin. Between FY23-25, the revenue grew at a compounded annual growth rate (CAGR) of 18%. The company is targeting revenue CAGR of 20% in the next 2-3 years by undertaking 15-20 new launches every year. In terms of capacity, it has expanded the Bhayla hormones facility."
They highlighted that as a long-term strategy, "it will enter the exports market and increase its revenue contribution to 5% by FY28."
Corona Remedies IPO Subscription Status, GMP Live: Growth Outlook
A report by Geojit highlights that "Corona Remedies has been ranked as the second fastest-growing company among the top 30 players in the Indian pharmaceutical market (IPM), with domestic sales rising at a 16.8% CAGR over the period from Moving Annual Total (MAT) June 2022 - June 2025. "
According to them, "this growth outpaced the industry’s 9.21% CAGR and is 1.8 times higher than the overall market."
Corona Remedies IPO Subscription Status, GMP Live: Indian formulation market outlook
The Indian domestic formulation market has been valued at Rs 2.3 trillion in FY25 (2% of global pharma). It has grown at an annually 9% rate on a compounded basis between FY20–FY25 and is projected to reach Rs 3.3–3.5 trillion by FY30 at 8–9% CAGR, driven by rising chronic diseases, greater healthcare awareness, and improved access.
Corona Remedies IPO Subscription Status, GMP Live: R&D capabilty
The company's R&D capabilities are integrated within its manufacturing sites, with a team of 103 employees (as of June 30, 2025) engaged in formulation development, manufacturing process optimisation, packaging R&D and process engineering. The company’s pipeline is oriented towards differentiated hormone and speciality products, supporting both domestic and international expansion.
Corona Remedies IPO Subscription Status, GMP Live: Geojit Investments on IPO valuation
"At the upper price band of Rs 1,062, Corona Remedies is available at a P/E of 43.5x (FY25 post issue basis), which appears to be fairly priced. With a strong distribution network, successful acquisitions and in-licensing, resilient financial performance, lean balance sheet and continued focus on R&D and innovation, the company is well-positioned for long-term growth. We therefore assign a 'Subscribe' rating for investors with a long-term investment horizon," said Geojit Investments in an IPO note.
Corona Remedies IPO Subscription Status, GMP Live: Among the fastest growing companies
Corona Remedies ranked as the second fastest-growing company among the top 30 players in the Indian pharmaceutical market (IPM), with domestic sales rising at a 16.8% CAGR over the period from Moving Annual Total (MAT) June 2022 to June 2025. This growth outpaced the industry’s 9.21% CAGR and is 1.8 times higher than the overall market.
Corona Remedies IPO Subscription Status, GMP Live: Key driver of growth
A key driver of growth is the company’s strategic focus on the “middle of the pyramid,” emphasising specialist and super-specialist engagement across urban and semi-urban geographies. Specialists contributed 76% of prescriptions in MAT June 2025, compared with 61% for the IPM. This strategy has supported consistent prescription share gains and an improvement in overall IPM ranking from 37th in MAT June 2022 to 29th in MAT June 2025.
Corona Remedies IPO Subscription Status, GMP Live: Master Capital Services on IPO
“With increasing awareness of treatments of various diseases women’s healthcare in India has evolved in the recent years. With a strong base in chronic and sub-chronic therapies, a focus on specialists, Corona Remedies is strategically positioned to capitalise on the sustained growth of India’s pharmaceutical sector and strengthen its leadership within the domestic market. Investors may consider the IPO as a potential long-term investment opportunity,” said Master Capital Services in an IPO note.
Corona Remedies IPO Subscription Status, GMP Live: Geojit on the company
Corona Remedies is ranked 6th in women’s healthcare, 5th in pain management, 22nd in cardio-diabeto (cardiac and diabetes care), and 9th overall in domestic sales, supported by the launch of its urology division in 2023, Geojit Investments said in its report
Corona Remedies IPO Subscription Status, GMP Live: Window till tomorrow for bids
Investors 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.
Corona Remedies IPO Subscription Status, GMP Live: Anchor investors
The company raised Rs 194.85 crore in the anchor round. The key participants include SBI Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra AMC, and Axis Mutual Fund.
Corona Remedies IPO Subscription Status, GMP Live: Manufacturing facilities
The company operates two manufacturing facilities in Gujarat and Himachal Pradesh with a combined installed capacity of 1.29 billion units per annum across 11 production lines. A hormone manufacturing facility in Gujarat is expected to be commissioned in Q1 FY27.
Corona Remedies IPO Subscription Status, GMP Live: GMP down from Day 1
As per the latest update, the company's shares are trading at Rs 1,319 in the unlisted markets. This indicates a GMP of 24% over the upper price band of the shares. However, the GMP is down slightly from day of 1 bidding as on the first day shares were trading at Rs 1,324.
But it is important to note that GMP is an unofficial metric for determining the listing price of shares. It fluctuates and changes depending on market mood and conditions
Corona Remedies IPO Subscription Status, GMP Live: Geojit Investment gives SUBSCRIBE rating
"At the upper price band of ₹1,062, CRL is available at a P/E of 43.5x (FY25 post issue basis), which appears to be fairly priced," Geojit Investments said.
With a strong distribution network, successful acquisitions and in-licensing, resilient financial performance, lean balance sheet and continued focus on R&D and innovation, the company is well-positioned for long-term growth. We therefore assign a SUBSCRIBE rating for investors with a long-term investment horizon, it added
Corona Remedies IPO Subscription Status, GMP Live: Overseas operations
For Q1FY26, the pharma company generated nearly 4% of its revenue from its international operations. The company plans on its expanding its overseas operations and currently operates in over 20 countries including UAE, Uzbekistan, Philippines, Kenya, Cyprus, etc.
Corona Remedies IPO Subscription Status, GMP Live: Q1FY26 sales and profit
For Q1FY26, the company reported sales worth Rs 346.5 crore, while its EBITDA for the same quarter stood at Rs 69.8 crore. The company reported a profit of Rs 46.2 crore for the Q1FY26.
Corona Remedies IPO Subscription Status, GMP Live: Master Capital Services on IPO
"With increasing awareness of treatments of various diseases women’s healthcare in India has evolved in the recent years. With a strong base in chronic and sub-chronic therapies, a focus on specialists, Corona Remedies is strategically positioned to capitalise on the sustained growth of India’s pharmaceutical sector and strengthen its leadership within the domestic market. Investors may consider the IPO as a potential long-term investment opportunity," said Master Capital Services in an IPO note.
Corona Remedies IPO Subscription Status, GMP Live: Company's growth story
Corona Remedies ranked as the second fastest-growing company among the top 30 players in the Indian pharmaceutical market (IPM), with domestic sales rising at a 16.8% CAGR over the period from Moving Annual Total (MAT) June 2022 to June 2025. This growth outpaced the industry’s 9.21% CAGR and is 1.8 times higher than the overall market.
Corona Remedies IPO Subscription Status, GMP Live: CRISIL on Corona Remedies
According to CRISIL, as of June 2025, Corona Remedies is ranked 6th in women’s healthcare, 5th in pain management, 22nd in cardio-diabeto (cardiac and diabetes care), and 9th overall in domestic sales, supported by the launch of its urology division in 2023, Geojit Investments said in its report
Corona Remedies IPO Subscription Status, GMP Live: Key strategy for growth
A key driver of growth is the company's strategic focus on the “middle of the pyramid,” emphasising specialist and super-specialist engagement across urban and semi-urban geographies. Specialists contributed 76% of prescriptions in MAT June 2025, compared with 61% for the IPM. This strategy has supported consistent prescription share gains and an improvement in overall IPM ranking from 37th in MAT June 2022 to 29th in MAT June 2025.