Corona Remedies IPO: ₹655 Cr Blockbuster Priced at ₹1008-1062—Pharma Powerhouse Gears Up!

IPO Timeline & Structure

Corona Remedies' mainboard IPO, entirely an offer for sale (OFS) of 61,71,101 shares, skips fresh issuance to boost liquidity and visibility. Subscription runs December 8-10, with anchor bidding on December 5. Retail minimum: 14 shares (₹14,868 at upper band); listing eyed for December 15 on BSE/NSE. Lead managers: JM Financial, IIFL Capital, Kotak Mahindra Capital; registrar: Bigshare Services.​

Key Highlights:

Price Band & Size: ₹1008-1062/share; ₹655.37 Cr total (down from initial ₹800 Cr plan).​

Investor Quota: 50% QIB, 35% retail, 15% NII; employee discount ₹54/share.​

Financials: FY25 revenue ₹1,202 Cr (up 18% YoY), PAT ₹149 Cr (up 65%); ROE 27.5%, debt/equity 0.10.​

Business Edge: 71 brands in women's health, cardiology, etc.; 2 Gujarat plants (1.28 Bn units capacity); 2,671 reps across 22 states.​

Sources: Upstox, Chittorgarh, NewsBytes