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Corona Remedies IPO Subscribed Nearly Two Times on Day Two
The initial public offering of Corona Remedies was subscribed nearly two times by the second day of bidding, driven by strong retail and non-institutional investor demand. The ₹655 crore IPO is entirely an offer-for-sale and is scheduled to list on December 15.
By Finblage Editorial Desk
11:45 am
9 December 2025
The initial public offering of Corona Remedies witnessed strong investor response on its second day of public bidding on December 9, with the issue getting subscribed nearly two times its offer size so far. As per NSE data at 11.18 a.m., the IPO received bids for 86.18 lakh shares against an offer size of 45.72 lakh shares.
Retail investors led the demand, subscribing to their portion more than twice. Non-Institutional Investors (NIIs) showed even stronger appetite, subscribing nearly four times their allotted quota. However, interest from Qualified Institutional Buyers (QIBs) remained muted, with only about 2% of their reserved portion subscribed so far.
In the grey market, unlisted shares of Corona Remedies were trading at a premium of nearly 25% over the IPO price, indicating positive listing expectations, according to IPO Watch data.
Corona Remedies is aiming to raise over ₹655 crore through this IPO, which is entirely an offer-for-sale (OFS). There is no fresh issue component, meaning all proceeds from the public issue will go to the existing selling shareholders and not to the company.
The IPO price band has been fixed at ₹1,008 to ₹1,062 per share. Investors can apply for a minimum of 14 shares per lot, requiring an investment of ₹14,868 at the lower end of the price band. The public issue opened for subscription on December 8 and will close on December 10. The final allotment is expected to be completed by December 11, with the shares scheduled to list on both NSE and BSE on December 15.
Commenting on the issue, Siddharth Maurya, Founder and Managing Director at Vibhavangal Anukulakara Pvt. Ltd., said that since the IPO is purely an offer-for-sale, investors will evaluate it primarily on fundamentals such as profitability, product depth, and growth consistency. He added that while the company has a decent presence across key therapeutic areas, its profitability remains lower compared to some peers. According to him, investors should view this as a long-term, steady-return opportunity rather than a short-term listing gain play.
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