Corona Remedies IPO ends with subscription of 137.04 times

The offer received bids for 62.65 crore shares as against 45.71 lakh shares on offer.

Corona Remedies received bids for 62,65,41,440 shares as against 45,71,882 shares on offer. The issue was subscribed 137.04 times.

The Qualified Institutional Buyers (QIB) category was subscribed 278.52 times, the Non-Institutional Investors category was subscribed 208.88 times and the Retail Individual Investors category was subscribed 28.73 times.

The issue opened for bidding on 8 December 2025 and it closed on 10 December 2025. The price band of the IPO is fixed between Rs 1,008 and 1,062 per share.

The IPO had been a complete offer for sale of equity shares, aggregating to Rs 655.37 crore, by existing shareholders Dr. Kirtikumar Laxmidas Mehta, Minaxi Kirtikumar Mehta, Dipabahen Niravkumar Mehta, Brinda Ankur Mehta, Sepia Investments, Anchor Partners, and Sage Investment Trust.

The promoters and promoter group had held an aggregate of 4,43,38,558 equity shares, aggregating to 72.5% of the pre-offer issued and paid-up equity share capital. Their post-IPO shareholding had been expected to be around 69%.

Corona Remedies is an India-focused branded pharmaceutical formulation company developing, manufacturing, and marketing products in womens healthcare, cardio-diabeto, pain management, urology and other therapeutic areas. It derives the majority of revenue, around 53.19% in Q1 FY26, from womens healthcare and cardio-diabeto therapeutic areas.

As of June 30, 2025, the diverse portfolio included 71 brands across therapeutic areas such as womens healthcare, cardio-diabeto, pain management, urology, and others, as well as multispecialty pharmaceuticals comprising vitamins, minerals and nutrition (VMN), gastrointestinal, and respiratory segments.

India accounted for 96.34% of the revenue in Q1 FY2026. Exports contributed 3.66%. It has a strong presence in the western zone of India, comprising Gujarat, Maharashtra, Goa, Madhya Pradesh, and Chhattisgarh.

Ahead of the IPO of Corona Remedies on 5 December 2025, the company raised Rs 194.85 crore from anchor investors by allotting 18.34 lakh shares at Rs 1,062 each to 17 anchor investors.

For the three months ended 30 September 2025, the firm recorded a consolidated net profit of Rs 46.20 crore and sales of Rs 346.54 crore.

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