Anchor investors will be allotted shares on December 5, it added.According to the prospectus, the company has revised its IPO size to Rs 655.37 crore, down from the Rs 800 crore initially planned at the time of filing the draft papers in late April.
Under the OFS route, existing investors – Sepia Investments, Anchor Partners and Sage Investment Trust – along with promoters – plan to sell shares. Being an OFS, the company receives no proceeds from the public issue and the entire amount goes to the selling shareholders.
Corona Remedies will make its stock market debut on December 15.
Corona Remedies, headquartered in Ahmedabad, is a pharmaceutical formulation company engaged in the development, manufacturing and marketing of products in women’s healthcare, cardio-diabeto, pain management, urology and other therapeutic areas.
The diversified product portfolio includes 67 brands as of December 2024, focusing on a range of therapeutic areas.
According to the Crisil Intelligence Report, Corona Remedies is the second fastest growing company among the top 30 companies in the Indian pharmaceutical market in terms of domestic sales performance from Moving Annual Total (MAT) June 2022 to June 2025.
During the period, the company’s domestic sales grew at a compound annual growth rate (CAGR) of 16.77 percent, compared to IPM which grew at a CAGR of 9.21 percent.
Half of the issue size is reserved for qualified institutional buyers, 35 percent for retail investors and the remaining 10 percent for non-institutional investors.
JM Financial, IIFL Capital Services and Kotak Mahindra Capital Company are the lead managers of the issue. PTI
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