Corona Remedies' IPO launched Dec. 8, raising ₹655 crore via share sale, with listing set for Dec. 15.

Corona Remedies' IPO opened on December 8, 2025, with shares priced between ₹1,008 and ₹1,062, raising ₹655.37 crore through an offer for sale by existing shareholders, meaning the company won’t receive any proceeds. The issue, managed by JM Financial, IIFL Capital, and Kotak Mahindra Capital, closed on December 10 and is set to list on December 15. Strong investor interest was signaled by a grey market premium of ₹290, suggesting a potential listing price 27% above the upper price band. Retail investors showed significant demand, while qualified institutional buyers had not yet bid. The Ahmedabad-based pharma firm, specializing in women’s health, cardio-diabeto care, pain management, and urology, reported strong financials and growth, with a 16.77% CAGR in domestic sales from 2022 to 2025, outpacing the industry average. Analysts note robust fundamentals and a promising pipeline, though the IPO is fully priced, with no fresh capital for expansion.