New Delhi. Corona Remedies, a rapidly growing company in the pharmaceutical sector, is going to enter the stock market soon. The initial public offer (IPO) of the company will open on December 8 and investors will be able to invest money in it till December 10. The company is going to raise ₹655.37 crore through this issue. This issue is completely an Offer for Sale (OFS) and the company will not issue any new shares. Under this OFS, promoters and existing investors will sell a total of 61.71 lakh shares. The company will not receive any primary capital from this issue. The allotment of the IPO will be done on December 11, while its shares are likely to be listed on BSE and NSE on December 15.
The price band of Corona Remedies IPO has been fixed at ₹ 1,008 to ₹ 1,062 per share, whose face value is ₹ 10. The issue has 14 shares in one lot and retail investors will have to bid for at least one lot. This means that investors in the upper price band will have to invest at least ₹ 14,868 in this IPO. Investors can then bid in multiples of 14 shares.
Corona Remedies IPO Reservation
35% of the issue has been reserved for retail investors, 50% for Qualified Institutional Buyers (QIBs) and the remaining 15% for non-institutional investors. At the upper end of the price band, the estimated post-listing market capitalization of the company comes to around ₹6,495 crore.
These investors will sell their shares
Existing investors like Sepia Investments, Anchor Partners and Sage Investment Trust will sell a part of their stake in Corona Remedies IPO through OFS. Therefore, the amount raised from the issue will go directly to these investors and there will be no impact on the balance sheet of the company. Market experts believe that the company’s strong growth, branded portfolio and presence in fast-growing therapeutic segments can attract the attention of investors.
Company Profile
Corona Remedies is a branded pharmaceutical formulation company, which operates across therapeutic segments like women’s health, cardio-diabetes, pain management, urology and many more. The company has made a strong hold in the domestic market in the last few years. According to the CRISIL Intelligence report, Corona Remedies has been the second fastest growing company among the top 30 players of the Indian Pharmaceutical Market (IPM) between MAT June 2022 and MAT June 2025.
During this period, the company’s domestic sales have grown at a compound annual growth rate (CAGR) of 16.77%, while the industry average growth rate was 9.21%. This rapidly increasing performance reflects the company’s strong market presence and brand positioning.
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