Corona Remedies IPO Allotment LIVE: Big GMP Signals 28% Listing Pop After 137x Subscription

Author: Aditya Pareek | EQMint | IPO News

Investors awaiting the allotment status of the Corona Remedies IPO can finally expect clarity as the allotment date is set for December 11. Following a blockbuster subscription and strong demand from institutional and retail categories, market attention has now shifted to whether applicants will receive shares—and what listing gains they might expect.

The IPO of Corona Remedies, a well-established pharmaceutical company headquartered in Ahmedabad, saw stellar interest during its three-day bidding window, positioning it among the most heavily subscribed pharma IPOs in recent months. With high grey market premium (GMP) trends continuing, anticipation for the listing remains strong.

IPO Subscription: A Massive 137.04 Times Overall

According to NSE data, the ₹655.37-crore IPO of Corona Remedies was subscribed an impressive 137.04 times by the final day of bidding on Wednesday. The IPO received 62.65 crore bids against 45,71,882 shares on offer, reflecting widespread investor optimism and confidence in the company’s consistent performance and diversified product portfolio.

Breaking it down:

- Qualified Institutional Buyers (QIBs): 278.52 times

- Non-Institutional Investors (NIIs): 208.88 times

- Retail Individual Investors (RIIs): 28.73 times

Such overwhelming participation, particularly from institutional investors, underscores the strong positioning of Corona Remedies in key therapeutic segments and its ability to scale within India’s rapidly evolving pharmaceutical landscape.

IPO Structure: 100% Offer for Sale (OFS)

The Corona Remedies IPO is a pure Offer for Sale (OFS), meaning no new shares are being issued by the company. Instead, the entire IPO comprises a stake sale by existing investors, including:

- Sepia Investments

- Anchor Partners

- Sage Investment Trust

- Promoter group members

This structure ensures that the listing will broaden the public shareholder base without diluting equity for ongoing operations. It also indicates confidence among existing stakeholders to unlock value through market participation.

Business Profile: A Scalable Pharmaceutical Platform

Founded in Ahmedabad, Corona Remedies has grown into a well-recognized healthcare player engaged in the development, manufacturing, and marketing of pharmaceutical formulations across a wide spectrum of therapeutic areas.

Key therapeutic segments include:

- Women’s Healthcare

- Cardio-Diabetes

- Pain Management

- Urology

- Respiratory Disorders

- Gastroenterology

- Vitamin and Nutrition (VMN)

- Thyroid Disorders

As of December 2024, the company maintained a strong and diverse product portfolio of 67 brands, many of which enjoy high prescription share and widespread doctor acceptance.

Growth Through Strategic Acquisitions and In-Licensing

Corona Remedies’ growth strategy is anchored in expanding its brand portfolio through acquisitions and in-licensing deals—both domestically and globally.

Recent acquisitions strengthening the brand:

- Myoril (Sanofi) — Strengthened its pain management and musculoskeletal segment

- Vitneurin — Expanded presence in VMN therapy

- Stelbid — Enhanced gastroenterology portfolio

- Dilo DX/BM — Added depth in respiratory care

- Obimet — Strengthened diabetes management line

- Thyrocab — Expanded reach in thyroid disease treatment

These targeted acquisitions have helped the company access high-growth therapeutic categories and rapidly scale its commercial reach.

In-licensing partnerships

Partnerships with global pharmaceutical leaders, including Ferring Pharmaceuticals, have significantly boosted offerings in:

- Women’s Health

- Fertility

- Urology

These alliances not only expand Corona Remedies’ product mix but also embed innovation into its pipeline, ensuring long-term competitive advantage.

Corona Remedies IPO GMP: Premium Signals Strong Listing Gains

One of the most watched indicators ahead of any listing is the grey market premium (GMP)—and for Corona Remedies, it has stayed robust.

As of today, the GMP stands at ₹295 per share.

With the issue price at ₹1,062, the GMP indicates a listing price of around ₹1,357, suggesting a premium of approximately 27.78%.

While GMP is unofficial and speculative, it often reflects market sentiment and demand from unlisted trading circles. A near-30% GMP signals strong optimism for the stock’s debut on the exchanges.

Why Investors Are Bullish on Corona Remedies

Several factors contribute to the heightened investor interest and subscription frenzy:

1. Strong therapeutic diversification

A presence across multiple high-growth therapy segments ensures reduced business risk and stable revenue growth.

2. Brand-led business model

The company owns several prescription-driven brands with strong recall among doctors and patients.

3. Scalable platform with manufacturing strength

The company combines R&D capabilities with manufacturing scale—making it competitive against larger pharma peers.

4. Proven track record of outperforming the IPM (Indian Pharmaceutical Market)

Corona Remedies has consistently grown faster than the broader industry, driven by focused marketing and expansion into new treatment areas.

5. Attractive listing expectations

A 28% estimated listing pop increases short-term investor enthusiasm.

Checking Corona Remedies IPO Allotment Status Online

Investors can check their share allotment status on the following platforms once finalized:

1. BSE Website

Visit the “Equity – IPO Allotment Status” section, enter application number, PAN, or DP ID.

2. Registrar Website

Since the registrar for the IPO is yet to be confirmed publicly, users can check once the official portal is updated with allotment information.

3. NSE/Broker Platforms

Some brokers also display allotment updates within their IPO dashboard.

Applicants who are allotted shares will receive credit in their demat accounts before listing, while refunds for those not allotted will be processed promptly.

Outlook: What to Expect on Listing Day?

With a strong GMP, robust subscription numbers, and growing confidence in high-quality pharma companies, market analysts expect Corona Remedies to see a healthy debut on the stock exchanges.

Key drivers for listing performance include:

- Institutional investor appetite

- Retail demand

- Broader market sentiment

- Pharma sector performance

- GMP stability

If market conditions remain favourable, the stock could potentially exceed current GMP expectations.

Conclusion

Corona Remedies’ IPO has captured significant attention from all investor categories due to its strong fundamentals, diversified business model, strategic acquisitions, and robust grey market sentiment. As allotment finalises today, anticipation builds for what may be one of the more successful listings in the pharma sector this year.

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Disclaimer: This article is based on information available from public sources. It has not been reported by EQMint journalists. EQMint has compiled and presented the content for informational purposes only and does not guarantee its accuracy or completeness. Readers are advised to verify details independently before relying on them.