| Corona Remedies received bids for 28,17,234 shares as against 45,71,882 shares on offer, according to stock exchange data at 17:00 IST on Monday (8 December 2025). The issue was subscribed 0.62 times.
The issue opened for bidding on 8 December 2025 and it will close on 10 December 2025. The price band of the IPO is fixed between Rs 1,008 and 1,062 per share.
The IPO is a complete offer for sale of equity shares, aggregating to Rs 655.37 crore, by existing shareholders Dr Kirtikumar Laxmidas Mehta, Minaxi Kirtikumar Mehta, Dipabahen Niravkumar Mehta, Brinda Ankur Mehta, Sepia Investments, Anchor Partners, and Sage Investment Trust.
The promoters and promoter group hold an aggregate of 4,43,38,558 equity shares, aggregating to 72.5% of the pre-offer issued and paid-up equity share capital. Their post IPO shareholding is expected to be around 69%
Corona Remedies is an India-focused branded pharmaceutical formulation company developing, manufacturing and marketing products in women’s healthcare, cardio-diabeto, pain management, urology and other therapeutic areas. It derives majority of revenue, around 53.19% in Q1 FY26, from women’s healthcare and cardio-diabeto therapeutic areas.
As of June 30, 2025, the diverse portfolio included 71 brands across therapeutic areas such as women’s healthcare, cardio-diabeto, pain management, urology, and others, as well as multispecialty pharmaceuticals comprising vitamins, minerals and nutrition (VMN), gastrointestinal, and respiratory segments.
India accounted for 96.34% of the revenue in Q1 FY2026. Exports contributed 3.66%. It has a strong presence in the western zone of India, comprising Gujarat, Maharashtra, Goa, Madhya Pradesh and Chhattisgarh.
Ahead of the IPO, Corona Remedies on 5 December 2025, the company raised Rs 194.85 crore from anchor investors, by allotting 18.34 lakh shares at Rs 1,062 each to 17 anchor investors.
For the three month ended 30 September 2025, the firm recorded a consolidated net profit of Rs 46.20 crore and sales of Rs 346.54 crore.
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