Shares of Corona Remedies debuted on Dalal Street on Monday, December 14, following an exceptionally strong response to its initial public offering, which was subscribed 137 times during the December 8–10 bidding window. The stock listed at ₹1,470 per share, delivering a premium of ₹408, or about 38.4 percent, over its issue price of ₹1,062. After listing, the shares continued to trade at a premium of nearly 30 percent. While grey market trends had indicated strong demand, such premiums are only a sentiment indicator and can be volatile.
Mahesh M. Ojha, Vice President–Research and Business Development at Kantilal Chhaganlal Securities, noted that although Corona Remedies is relatively small, it is expanding rapidly across key therapy areas and strengthening its prescription base. He suggested investors book partial listing gains while retaining some holdings for the long term, citing a valuation of 43.4 times FY25 earnings.
Shivani Nyati of Swastika Investmart echoed a similar view, recommending partial profit-taking for short-term investors and holding for long-term growth, supported by the company’s steady performance in chronic therapy segments.
The IPO raised ₹655.37 crore entirely through an offer for sale, with promoters and existing shareholders divesting 61.71 lakh shares. Corona Remedies operates as an India-focused branded formulations company with a strong growth record, outpacing the broader pharmaceutical market in recent years.
