The Rs 655.37 crore IPO of Ahmedabad-based pharmaceutical company Corona Remedies opens for public subscription today.
Backed by private equity firm ChrysCapital, the company has already seen strong interest from institutional investors ahead of its market debut.
Headquartered in Ahmedabad, Corona Remedies operates in multiple therapeutic areas, including women’s health, cardiovascular disease, pain management, and urology, with a portfolio of 67 brands as of December 2024.
IPO Price, Lot Size, and Investment Details
The IPO price band isset at Rs 1,008–1,062 per share, valuing the company at around Rs 6,500 crore.
Lot size: 14 shares
Minimum investment: Rs 14,868 (at the upper end of the price band)
This IPO is entirely an Offer for Sale (OFS) by promoters and existing shareholders, including Sepia Investments, Anchor Partners, and Sage Investment Trust.
As it is a pure OFS, the company will not receive any funds; proceeds will go directly to the selling shareholders.
IPO Timeline and Anchor Investment
The public subscription opens December 8 and closes December 10, 2025.
The allotment is expected on December 11, and the shares are likely to list on BSE and NSE on December 15, 2025.
Before the IPO, Corona Remedies raised Rs 195 crore from anchor investors, including SBI Mutual Fund, ICICI Prudential MF, HDFC MF, Kotak MF, Axis MF, DSP MF, Invesco MF, and SBI Life Insurance Company.
A total of 18.36 lakh shares were allotted to 17 anchor funds at Rs 1,062 per share, reflecting strong institutional confidence in the company.
Business Overview: A Fast-Growing Pharma Company
Corona Remedies is one of the fastest-growing pharmaceutical companies in India.
According to Crisil Intelligence, it is the second-fastest growing company among India’s top 30 pharma firms based on domestic market sales.
Between June 2022 and June 2025, domestic sales grew at a 16.77% CAGR, significantly higher than the Indian Pharmaceutical Market’s 9.21% CAGR.
The IPO is being managed by JM Financial, IIFL Capital Services, and Kotak Mahindra Capital Company as the book-running lead managers.