The Indian primary market is set to welcome a new pharmaceutical player as Corona Remedies Limited prepares to launch its initial public offering (IPO) next week. The public issue, which is a complete offer for sale (OFS) by existing promoters and investors, aims to raise a substantial sum of ₹655.37 crore from the market.
IPO Dates and Key Offer Details
The much-anticipated Corona Remedies IPO will open for subscription on Monday, 8 December 2025, and will close on Wednesday, 10 December 2025. Investors can bid for shares in the price band of ₹1,008 to ₹1,062 per equity share, with a minimum lot size of 14 shares. The Gujarat-based pharmaceutical firm has fixed Friday, 5 December 2025, as the anchor investor book-building date.
According to the Red Herring Prospectus (RHP), the entire issue comprises an offer for sale of up to 61,71,000 equity shares by the selling shareholders. It is crucial to note that the company itself will not receive any proceeds from this IPO round. The funds raised will go directly to the promoters and investors divesting their stakes.
Company Profile and Financial Health
Corona Remedies is an integrated pharmaceutical company with a strategic focus on developing and manufacturing products across key therapeutic segments. Its core areas include women's healthcare, cardio-diabetes, pain management, and urology. The company operates two manufacturing facilities located in Gujarat and Himachal Pradesh.
A look at the company's financials reveals a robust performance. For the financial year ended 2024-25, Corona Remedies reported a net profit of ₹149.43 crore on revenues of ₹1,196.41 crore. The momentum continued into the first quarter of FY26 (April-June 2025), where it posted a net profit of ₹46.19 crore with revenue from operations at ₹346.54 crore. The company's net worth stood at a healthy ₹607.02 crore as of 30 June 2025.
Market Sentiment and Listing Timeline
The grey market premium (GMP) for the Corona Remedies IPO has indicated strong investor interest. As of Thursday, 4 December 2025, the GMP stood at ₹307 per share. Considering the upper price band of ₹1,062, this suggests an expected listing price of around ₹1,369, which would be a premium of approximately 29% on the issue price.
The share allocation for the IPO is expected to be finalized on Tuesday, 11 December 2025. Subsequently, the equity shares of Corona Remedies are estimated to make their debut on the stock exchanges, with listing on both the BSE and NSE scheduled for Monday, 15 December 2025.
The book-running lead managers for the issue are JM Financial Ltd, IIFL Capital Services Ltd, and Kotak Mahindra Capital Co. Ltd. Bigshare Services Pvt. Ltd. is the registrar. The offer has reservations for different investor categories, with not less than 50% for Qualified Institutional Buyers (QIBs), not more than 35% for retail investors, and not more than 15% for Non-Institutional Investors (NIIs).
The selling shareholders in this OFS include promoters Kirtikumar Laxmidas Mehta, Minaxi Kirtikumar Mehta, Dipabahen Niravkumar Mehta, and Brinda Ankur Mehta, along with investor entities Sepia Investments Limited, Anchor Partners, and Sage Investment Trust.
