Corona Remedies IPO to list on Dec 15; here's what GMP hints for D-St debut

Corona Remedies IPO received an overwhelming investor interest, achieving an overall oversubscription of 137 times, driven largely by strong participation from QIBs

Corona Remedies IPO listing forecast: Corona Remedies, a pharmaceutical company, is set to make its market debut on Monday, December 15, 2025, and early indicators from the grey market point to a bumper listing. The company raised ₹655.7 crore through its initial public offering (IPO), which comprised an offer for sale (OFS) of 6.2 million equity shares. There is no fresh issue component.

 

Corona Remedies IPO received an overwhelming investor interest, achieving an overall oversubscription of 137 times, driven largely by strong participation from qualified institutional buyers (QIBs), whose quota was booked 278.52 times. The non-institutional investors (NIIs) and retail investor segment also showed decent demand, oversubscribing their portions by 208.88 times and 28.73 times, respectively, according to NSE data.

 

The basis of allotment for the issue was finalised on Thursday, December 11, 2025, and investors are now awaiting the stock’s debut on Dalal Street. Ahead of its debut, the company’s unlisted shares were trading at around ₹1,372 apiece in the grey market, indicating a premium of ₹310 or 29.2 per cent over the issue price of ₹1,062, as per sources tracking unofficial markets.

 

If the current grey market sentiment sustains, Corona Remedies shares are likely to debut around ₹1,372, implying potential listing gains of 29 per cent for IPO investors. However, market experts caution that the grey market operates outside regulatory oversight, and the GMP (Grey Market Premium) should not be viewed as a definitive indicator of the stock’s actual listing performance. 

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Corona Remedies IPO details

The IPO comprised an OFS of 6.2 million shares aggregating to ₹655.68 crore. The issue was offered at a price band of ₹1,008 to ₹1,062 per share, with a lot size of 14 shares. The public issue was open for subscription from December 8 to December 10, 2025.

 

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

 

According to the red herring prospectus (RHP), the company will not receive any fresh funds from the issue, and existing shareholders will sell their stake through the offer. Kirtikumar Laxmidas Mehta, Minaxi Kirtikumar Mehta, Dipabahen Niravkumar Mehta, and Brinda Ankur Mehta are the promoter selling shareholders under the OFS, while Sepia Investments, Anchor Partners, and Sage Investment Trust are the investor selling shareholders.