Corona Remedies Rockets 38.4% in Pre-Open: Blockbuster Pharma IPO Debut

At 9:50 AM IST on December 15, 2025, Corona Remedies (CORONA.NS) debuted sharply higher in pre-open at ₹1,470 versus the ₹1,063 upper IPO band. The ₹1,600 crore mainboard issue, open Dec 10-12, saw massive oversubscription led by QIBs (45x+), reflecting investor appetite for API-to-injectables plays amid global supply shifts.

Key Highlights

Premium Surge: 38.4% jump to ₹1,470 signals listing pop potential toward ₹1,500+ if volumes sustain.

IPO Momentum: QIBs 45x, NII 28x, retail 4x; funds capex (₹800cr), debt paydown, working capital.

Business Strength: Leader in cephalosporin injectables (20% domestic share), exports to 50+ nations; eyes ₹2,000cr revenue FY27.

Market Contrast: Outshines Wakefit's flat open, buoyed by sector tailwinds despite Rupee at 90.55 low.

Trading Outlook

Sustained bids could test ₹1,550 resistance; watch pharma index for sector rotation amid benchmark softness.

Sources: NSE India, Moneycontrol, Business Standard