Corona Remedies IPO Subscribed 9.33 Times

New Delhi, Dec 9 (PTI) The initial public offering (IPO) of pharma firm Corona Remedies received 9.33 times subscription on the second day of the share sale on Tuesday.

The IPO received bids for 4,26,66,148 shares against 45,71,882 shares on offer, according to the NSE data.

The portion for Non Institutional Investors was subscribed 26.80 times, while the quota for Retail Individual Investors (RIIs) received 6.37 times subscription. The Qualified Institutional Buyers (QIBs) part subscribed 1.67 times.

Corona Remedies, which is backed by private equity firm ChrysCapital, on Friday said it has mobilised Rs 195 crore from anchor investors.

The company's Rs 655.37 crore maiden public offering, which is entirely an offer for sale (OFS) by promoters and existing investors, will conclude on December 10.

Corona has fixed a price band of Rs 1,008-1,062 per share for IPO, valuing the company at nearly Rs 6,500 crore.

Under the OFS route, existing investors -- Sepia Investments, Anchor Partners, and Sage Investment Trust -- along with promoters, plan to offload shares.

Headquartered in Ahmedabad, Corona Remedies is a pharmaceutical formulation company engaged in developing, manufacturing and marketing products in women's healthcare, cardio-diabeto, pain management, urology and other therapeutic areas.

Its diversified product portfolio comprises 67 brands catering to a range of therapeutic areas as of December 2024.