MUMBAI: Gujarat-based pharmaceutical company, Corona Remedies Limited has set the price band for its initial public offering (IPO) in the range of Rs 1,008 to Rs 1,062 per share. The company aims to raise Rs 655.37 crore through an offer for sale (OFS) of 6.2 million equity shares. The the issue will open for subscription on Monday, December 8, 2025, and close on Monday, December 10, 2025. The anchor investor period shall be one day prior to the opening date, i.e. Friday, December 5, 2025. The basis of allotment of shares is likely to be finalised on Thursday, December 11, 2025. The lot size for an application is 14 shares. Accordingly, a retail investor would require a minimum investment amount of Rs 14,868 to bid for one lot or 14 shares at the upper end price and in multiples thereof.
There is no fresh issue component. Under the OFS, Kirtikumar Laxmidas Mehta, Minaxi Kirtikumar Mehta, Dipabahen Niravkumar Mehta, Brinda Ankur Mehta, Sepia Investments, Anchor Partners, and Sage Investment Trust are the selling shareholders. The company will not receive any fresh funds from the issue, and existing shareholders will sell their stake through the offer. The management team told our news reporter Sachin P.M about the Company financial report. For the three months ended June 30, 2025 (Q1FY26), the company reported a revenue from operations of Rs 346.54 crore and profit after tax (PAT) of Rs 46.2 crore.In FY25, Corona Remedies posted a revenue from operations of Rs 1,196.4 crore, up 17.93 per cent from Rs 1,014.47 crore in the previous fiscal. Its earnings before interest, tax, depreciation and amortisation (Ebitda) stood at Rs 245.92 crore in FY25, up 52.56 per cent from Rs 161.19 crore in FY24. The company’s PAT grew 65.11 per cent to Rs 149.43 crore against Rs 90.5 crore in FY24.
According to the red herring prospectus (RHP), the company has reserved not more than 50 per cent of the issue for qualified institutional buyers (QIBs), not less than 35 per cent for retail investors and not more than 15 per cent for non-institutional investors (NIIs).
Established in 2004, Corona Remedies is a pharmaceutical company specialising in the development, manufacturing, and marketing of products in women’s healthcare, cardiology, pain management, urology, and other therapeutic areas. It has a diverse portfolio including 71 brands across therapeutic areas. The company operates two manufacturing facilities in Gujarat with an aggregate installed capacity for formulations of 1,285.44 million units per annum.On Wednesday, December 3, 2025, the unlisted shares of Corona Remedies were trading at Rs 1,122, reflecting a premium of Rs 60 or 5.65 per cent against the upper end price, according to sources tracking unofficial markets.
Bigshares Services is the registrar for the issue. JM Financial, IIFL Capital Services, and Kotak Mahindra Capital Company are the book-running lead managers.
The stock will be listed on the National Stock Exchange (NSE) and BSE, tentatively on Monday, December 15, 2025.
