Corona Remedies, a pharmaceutical manufacturer based in Gujarat, has made a robust debut in the Indian stock market. The company's share price was listed at ₹1,461 apiece on the National Stock Exchange (NSE), a premium of 37.57% over its issue price of ₹1,062. On the Bombay Stock Exchange (BSE), it listed at ₹1,452, up 36.72%.
The Corona Remedies Initial Public Offering (IPO) outperformed street expectations, as seen from the grey market premium (GMP). The GMP for Corona Remedies IPO stood at ₹342.50 per share, indicating a likely listing price of around ₹1,404.50, translating to a premium of 32.25% over the upper end of the issue price band.
The Corona Remedies IPO witnessed exceptional subscription in the three days of bidding. It was subscribed a whopping 144.54 times by the end of the third day. The retail portion was subscribed 30.39x, the Non-Institutional Investors (NII) portion was booked 220.18x, and the Qualified Institutional Buyers (QIBs) segment received 293.80x bids. Meanwhile, the employee quota was booked 15.56x.
The company received bids for 62.67 crore shares against 43.36 lakh shares on offer. This ₹655.37 crore public offering was solely an offer for sale (OFS) amounting to 0.62 crore shares, with the company issuing no new stock. Through this OFS, existing investors — namely Sepia Investments, Anchor Partners, and Sage Investment Trust — will reduce their shareholding.
Corona Remedies posted a net profit of ₹46.19 crore for the first quarter of FY26. This followed 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 income for FY25 amounted to ₹1,196.41 crore.
Corona Remedies is a pharmaceutical manufacturer with a diverse portfolio that spans women’s health, cardio-diabetes, pain management, urology, and several other therapeutic categories. The company operates two manufacturing plants — one situated in Gujarat and the other in Himachal Pradesh.
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