Corona Remedies IPO opens Dec 8: GMP at 31%; 5 key risks you should know

Corona Remedies IPO will be offered at a price band of ₹1,008 to ₹1,062 per share, with a lot size of 14 shares

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Corona Remedies IPO: The maiden public issue of the pharmaceutical company, Corona Remedies, will open for public subscription on Monday, December 8, 2025. The initial public offering (IPO) worth ₹655.37 crore is an entirely offer for sale (OFS) with investors divesting up to 6.2 million shares. There is no fresh issue component.

 

Corona Remedies IPO will be offered at a price band of ₹1,008 to ₹1,062 per share. The minimum application size has been set at 14 shares per lot. The issue will remain open for subscription till Wednesday, December 10, 2025. The company’s shares are tentatively scheduled to make their D-Street debut on Monday, December 15, 2025.

 

Under the OFS, Kirtikumar Laxmidas Mehta, Minaxi Kirtikumar Mehta, Dipabehen Niravkumar Mehta, and Brinda Ankur Mehta are the promoter selling shareholders. Sepia Investments, Anchor Partners, and Sage Investments are the investors selling shareholders. 

 

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

Corona Remedies IPO GMP

On Thursday, December 4, the unlisted shares of Corona Remedies were trading at ₹1,392 in the grey market, commanding a premium of ₹330 or 31 per cent from the upper end price of ₹1,062.   ALSO READ | Nephrocare Health sets IPO price band at ₹438-460: Check key details here 

Here are the key risks associated with investing in Corona Remedies:

Revenue concentration: According to Red Herring Prospectus (RHP), Corona Remedies earns a significant portion of its revenue from women’s healthcare, cardio-diabeto, and pain management, contributing 65.14 per cent for Q1FY26 and 62.40 per cent for FY2025. If these products underperform or face strong competition, the company’s business and financials could be adversely affected.

 

Dependence on key brands: The company’s 27 “engine” brands, including B-29 and Myoril, contributed 72.34 per cent of domestic sales during the MAT June 2025 period. Any adverse developments affecting these key brands could negatively impact the company’s business, financials, and results of operations. The company’s broader portfolio includes 71 brands across therapeutic areas such as women’s healthcare, cardio-diabeto, pain management, and urology, reflecting its track record of building and scaling successful brands.

 

Reliance on domestic markets: According to the RHP, the company earns a large majority of its revenue from operations in India, accounting for 96.34 per cent for Q1FY26 and 96.33 per cent for FY25. Additionally, a significant portion of the company’s domestic sales is concentrated in Gujarat, Maharashtra, Chhattisgarh, Goa, and Madhya Pradesh, accounting for 47.30 per cent of domestic sales for MAT June 2025. Any decline in domestic demand, failure to expand internationally, increased competition, pricing pressures, or disruptions such as infectious disease outbreaks could adversely impact the company’s business.

 

Dependence on suppliers: Corona Remedies relies on third-party suppliers for raw materials and finished goods, without long-term contracts. Purchases from these suppliers accounted for 19.87 per cent of total expenses for Q1FY26 and 27.96 per cent for FY25. It relies on La Chandra Pharmalab, an associate, for certain active pharmaceutical ingredients (APIs) in women’s healthcare. The company may not be able to fully control supplier operations, potentially affecting the uninterrupted supply of raw materials and APIs.

 

Regulatory compliance risks: The company is required to obtain, maintain, and renew statutory and regulatory licenses, permits, and approvals to operate its business in India and international markets. These include approvals from authorities such as the State Food & Drug Administration, Ministry of Health and Family Welfare, Ministry of Ayush, Drugs Controller General of India, and other central, state, and local regulators, as well as permits related to land use, manufacturing, trade, labour, and environmental compliance. Failure to comply with these requirements could negatively impact the company’s business.