Corona Remedies IPO off to a lukewarm start; GMP holds steady at 27%

Corona Remedies IPO: Check price band, lot size GMP, subscription status, reviews, and other key details here

Corona Remedies IPO Subscription Status: The initial public offering (IPO) of the pharmaceutical company Corona Remedies is off to a slow start on the first day of its subscription on December 8, 2025. Valued at ₹655.37 crore, the public offering comprises an entirely offer-for-sale (OFS) with promoters and shareholders divesting up to 6.2 million equity shares.

 

NSE data suggests the public issue, offered at a price band of ₹1,008–₹1,062 per share and a lot size of 14 shares, has been booked 30 per cent till 12:21 PM on Monday. Among the individual categories, retail and non-institutional investors have shown more interest compared to qualified institutional buyers (QIBs).

 

Retail investors have booked 45 per cent of their reserved category, while NIIs have booked 31 per cent. QIBs, meanwhile, have placed bids for only 1,344 shares against 12,88,732 shares reserved for the category.  ALSO READ | Subscribed to Aequs IPO? Here's how to check allotment status, latest GMP

Grey market trends show favourable sentiments 

Meanwhile, grey market trends suggest favourable sentiment for the public offering. Sources tracking unofficial markets indicate that the company’s unlisted shares were exchanging hands at around ₹1,352 per share. This translates into a grey market premium (GMP) of ₹290 per share, or 27.31 per cent over the upper end of the issue price.

Brokerages remain upbeat  

Adding to the sentiment, brokerages Arihant Capital and SBI Securities have also shared favourable reviews for the public offering. The former has recommended a ‘Subscribe’ rating to the issue, while the latter has advised investors to subscribe at the cut-off price, citing healthy return ratios, a lean balance sheet, and valuations in line with peers. READ MORE

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Corona Remedies IPO timeline

The public issue will remain available for subscription till Wednesday, December 10, 2025. Investors can bid for a minimum of 14 shares and in multiples thereof. A retail investor would require ₹14,868 to bid for one lot of 14 shares, and ₹— to bid for a maximum of 13 lots or 182 shares.

 

Following the closure of subscription winsow, the basis of allotment is to be finalised on Thursday, December 11, 2025. Shares of the company are likely to make their D-Street debut on Monday, December 15, 2025.

 

Bigshare Services serves as the registrar for the issue, while Kotak Mahindra Capital Company, IIFL Capital Services and JM Financial are the book-running lead managers.

 

It is worth noting that the company will not receive any proceeds from the offer, and the offer proceeds will be received by the selling shareholders in proportion to the shares sold by them as part of the offer, after deducting their portion of offer-related expenses and the relevant taxes thereon.