Corona Remedies IPO hits 15.70x subscription on Day 3 (Dec 10), driven by NII frenzy, with GMP at ₹262-₹330 hinting 25-31% premium listing. The ₹655 cr OFS (₹1008-1062/share) closes today; strong FY25 growth (₹1196 cr revenue) fuels demand amid pharma boom.
Open Dec 8-10, this 100% OFS raises ₹655 cr from promoters/shareholders (no fresh capital). Price band: ₹1008-1062 (lot: 14 shares, min ₹14,868 retail). Listing Dec 15 on BSE/NSE. FY25: Revenue ₹1196 cr (+growth), PAT ₹149 cr; focuses formulations in acute/chronic therapies.
Key Highlights
Subscription Status: Day 3 ~15.70x overall; Retail 5.62-6.77x, NII 12-28x, QIB 1.76x (Day 2 data; final pending).
GMP Buzz: ₹262-₹330 (24-31% premium); expected listing ₹1324-1392 vs upper band.
Financials: EBITDA ₹246 cr; diversified portfolio, strong mfg, but key brand/regulatory risks noted.
Investor Advice: Apply for listing gains (strong demand/GMP); long-term cautious on valuation/OFS structure.
Pharma momentum roars—final hours to bid!
Sources: Economic Times, Moneycontrol, IPOWatch, Chittorgarh, Zerodha.