Corona Remedies delivered a strong debut on the stock exchanges, listing at a premium of over 38 percent to its IPO price after witnessing heavy demand in the primary market. The issue was subscribed an impressive 137.04 times during the December 8–10 bidding period. On the National Stock Exchange, the company’s shares opened at ₹1,470 apiece, translating into a 38.42 percent gain over the upper issue price. The ₹655.37 crore IPO was offered in a price range of ₹1,008 to ₹1,062 per share.
On the BSE, Corona Remedies shares debuted at ₹1,452, reflecting a premium of 36.72 percent. Following the listing, the company’s market valuation stood at approximately ₹8,880.44 crore.
The stock’s opening exceeded grey market expectations, which had indicated listing gains of around 32 percent. Prior to the public issue, the company had already raised ₹195 crore from anchor investors, reflecting early institutional confidence.
Based in Ahmedabad, Corona Remedies operates as a pharmaceutical formulations firm focused on developing, manufacturing, and marketing medicines across multiple segments, including women’s healthcare, cardio-diabeto, pain management, urology, and other therapy areas. As of December 2024, the company’s diversified portfolio included 67 brands spanning a wide range of therapeutic categories.