Corona Remedies Ltd has reduced its IPO offer size to ₹6.55 billion, down from the earlier planned ₹8 billion, according to its Red Herring Prospectus (RHP). The pharma company, known for its branded formulations across therapeutic areas, aims to balance investor appetite with market conditions while preparing for listing on NSE and BSE.
Pharmaceutical firm Corona Remedies Ltd has revised its upcoming Initial Public Offering (IPO), lowering the total offer size to ₹6.55 billion from ₹8 billion, as per its Red Herring Prospectus (RHP). The adjustment reflects a cautious approach amid fluctuating market sentiment, ensuring the issue remains attractive to investors.
Corona Remedies, engaged in branded formulations across women’s healthcare, cardio-diabetes, pain management, and urology, has built a portfolio of over 65 brands. The IPO, structured as a book-building issue, will see equity shares listed on both NSE and BSE. JM Financial Ltd is the lead manager, while Bigshare Services Pvt. Ltd acts as registrar.
Analysts note that the reduced size could improve subscription prospects, while still providing capital for expansion and strengthening the company’s domestic footprint.
Key Highlights / Major Takeaways
Offer Size Cut: From ₹8 billion to ₹6.55 billion (RHP).
Listing Plan: Shares to be listed on NSE and BSE.
Business Focus: Strong presence in women’s healthcare, cardio-diabetes, pain management, urology.
Lead Manager: JM Financial Ltd; Registrar: Bigshare Services Pvt. Ltd.
Strategic Context: Lower size may boost investor confidence amid market volatility.
Sources: Chittorgarh IPO Dashboard, IPO360, Univest