Corona Remedies, a pharmaceutical company, is all set to debut on the stock market on December 15. The company's Initial Public Offering (IPO) gained massive attention from investors, with subscriptions crossing 144 times during its three-day bidding period.
The shares are currently commanding a strong grey market premium (GMP) of ₹291 per share. This indicates a potential listing price of ₹1,353 per share, which is 27.40% higher than the issue price. However, analysts advise that GMP should not be the sole factor in making investment decisions.
The company raised ₹655.38 crore from investors, with the issue being subscribed 144.4 times. The qualified institutional buyer (QIB) segment saw a strong spike in demand, with the quota being subscribed 293.80 times. The non-institutional investor (NII) portion was subscribed 220 times, and the retail investor portion was subscribed 30.39 times.
Corona Remedies, based in Gujarat, operates as a pharmaceutical manufacturer with offerings across various therapeutic categories, including women's health, cardio-diabetes, pain management, and urology. The company has two manufacturing facilities, one in Gujarat and the other in Himachal Pradesh.
The company reported a net profit of ₹46.19 crore for Q1 FY26 and a full-year net profit of ₹149.43 crore in FY25. Revenue from core operations reached ₹346.54 crore in the second quarter of FY26, while total revenue for FY25 stood at ₹1,196.41 crore.
Investors are advised to check with certified experts before making any investment decisions. The company's debut on the stock market is expected to be strong, but it's essential to consider all factors before investing.
Note: This article is for educational purposes only, and the views and recommendations made are those of individual analysts or broking companies, not of the publisher.
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