Corona Remedies IPO
Corona Remedies IPO is a book-built issue of Rs. 655.37 crore, entirely an Offer for Sale of equity shares.
The IPO opens on December 8, 2025 and closes on December 10, 2025. Tentative listing is on December 15, 2025 on BSE and NSE. The price band is fixed at Rs. 1008-1062 with lot size of 14 shares.
đź•— Last Update: 4Â December 2025, 6.00 AM
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Corona Remedies IPO Details
| Particulars | Details |
|---|---|
| IPO Date | December 8, 2025 to December 10, 2025 |
| Listing Date | December 15, 2025 (Tentative) |
| Face Value | Rs. 10 per share |
| Issue Price Band | Rs. 108 to Rs.1062 per share |
| Lot Size | 14 Shares |
| Issue Structure | Offer for Sale only |
| Offer for Sale | Aggregating up to Rs. 655.37 crore |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Pre-Issue Share Capital | 6,11,60,088 shares |
| Post-Issue Share Capital | 6,11,60,088 shares (No dilution) |
Corona Remedies IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | Not less than 50% of the Net Offer |
| Retail | Not more than 35% of the Net Offer |
| NII | Not more than 15% of the Net Offer |
Investor Category – Bidding Limits
| Category | Maximum Bidding Limit | Cut-off Allowed |
|---|---|---|
| Only RII | Up to Rs. 2 lakhs | Yes |
| sNII | Rs. 2 lakhs to Rs. 10 lakhs | No |
| bNII | Above Rs. 10 lakhs | No |
| Employee | As per employee reservation | Yes |
| Employee + RII/NII | As per respective category | Yes |
Corona Remedies IPO Timeline (Tentative)
| Event | Date |
|---|---|
| IPO Opens | Mon, Dec 8, 2025 |
| IPO Closes | Wed, Dec 10, 2025 |
| Allotment Finalisation | Thu, Dec 11, 2025 |
| Refund Initiation | Fri, Dec 12, 2025 |
| Shares to Demat | Fri, Dec 12, 2025 |
| Listing Date | Mon, Dec 15, 2025 |
| UPI Cut-off | 5 PM on Dec 10, 2025 |
Corona Remedies IPO Promoter Holding
| Particulars | Percentage |
|---|---|
| Promoter Holding (Pre-Issue) | 72.50% |
| Promoter Holding (Post-Issue) | 72.50% (No change due to OFS) |
About Corona Remedies Ltd.
Incorporated in 2004, Corona Remedies Ltd. is a fast-growing pharmaceutical company engaged in developing, manufacturing, and marketing medicines across multiple therapeutic segments including women’s healthcare, cardiology, urology, pain management, vitamins, gastrointestinal, and respiratory.
As of June 30, 2025:
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71 brands across major therapeutic areas
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Strong presence in women’s healthcare and cardio-diabeto segments
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2,671 medical representatives across 22 states, ensuring deep market penetration
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Two manufacturing facilities in Gujarat, with total installed capacity of 1,285.44 million units per annum
Competitive Strengths
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2nd fastest-growing company among India’s top 30 pharma players (MAT Jun 2022–MAT Jun 2025)
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Diversified product portfolio with strong “engine brands”
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Pan-India distribution network targeting the middle-of-the-pyramid market
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cGMP-compliant manufacturing with strong R&D
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Backed by experienced management and marquee investors
Corona Remedies Ltd. Financial Information
(Restated Consolidated, Amount in Rs. crore)
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1,012.38 | 929.86 | 830.58 | 595.02 |
| Total Income | 348.56 | 1,202.35 | 1,020.93 | 891.10 |
| Profit After Tax | 46.20 | 149.43 | 90.50 | 84.93 |
| EBITDA | 71.80 | 245.91 | 161.19 | 135.03 |
| Net Worth | 607.02 | 606.34 | 480.41 | 408.52 |
| Reserves & Surplus | 545.86 | 545.18 | 419.25 | 347.36 |
| Total Borrowing | 106.65 | 62.70 | 134.14 | 2.33 |
Key Performance Indicators (KPI)
| KPI | Value |
|---|---|
| ROE | 27.50% |
| ROCE | 41.32% |
| Debt/Equity | 0.10 |
| RoNW | 24.65% |
| PAT Margin | 12.49% |
| EBITDA Margin | 20.55% |
Corona Remedies Ltd. Contact Details
Corona Remedies Ltd.
CORONA House, C – Mondeal Business Park
Near Gurudwara, S.G. Highway
Thaltej, Ahmedabad – 380059, Gujarat
Phone: +91 79 4023 3000
Email: complianceofficer@coronaremedies.com
Website: https://www.coronaremedies.com/
IPO Lead Manager(s)
JM Financial Ltd.
IIFL Capital Services Ltd.
Kotak Mahindra Capital Co. Ltd.
Corona Remedies IPO Registrar
Bigshare Services Pvt. Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Chanakya Short Review – Corona Remedies IPO
Corona Remedies is a fast-growing domestic pharma company with strong presence in women’s healthcare and cardio-diabeto therapies. The company has delivered consistent growth, with FY25 PAT rising 65% YoY and EBITDA margin improving to 20.55%. With over 2,671 MRs and 71 brands, the company enjoys deep penetration in the middle-of-the-pyramid market, supported by well-established cGMP manufacturing units. Balance sheet strength is visible with low Debt/Equity of 0.10 and high returns (ROE 27.5%, ROCE 41.3%). For the year 24-25, the company has earned EPS of Rs. 24.43 and based on the Q1 25-26, the EPS can be projected at Rs. 30.
However, the IPO is entirely an OFS, meaning the company will not receive funds for expansion. At the upper price band of Rs. 1,062, valuations appear rich (PE 35.40 based on current year anticipated EPS) and peer-level scrutiny becomes critical. Considering strong operating metrics but premium pricing, investors should evaluate the IPO primarily on competitive positioning and post-listing growth visibility.
Corona Remedies IPO – Peer Comparison
| Company | FY25 Revenue (Rs. Cr) | PAT Margin | ROE | PE Ratio* |
|---|---|---|---|---|
| Corona Remedies | 1,202 | 12.49% | 27.50% | To be derived from IPO pricing |
| JB Chemicals & Pharma | ~3,200 | ~16% | ~22% | ~28x |
| Ajanta Pharma | ~3,800 | ~18% | ~20% | ~30x |
| Glenmark Pharma | ~14,000 | ~6% | ~7% | ~24x |
| Alkem Labs | ~26,000 | ~7% | ~13% | ~35x |
Summary: Corona’s growth rate and return ratios are stronger than many peers, but valuation at IPO price of Rs. 1,062 is likely to match or exceed top-tier listed pharma multiples.
(*PE Ratios are indicative industry averages for comparison.)
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