Corona Remedies IPO GMP rises ahead of D-St debut on Monday; experts recommend post-listing strategies

Corona Remedies IPO GMP rises ahead of listing on December 15.

Corona Remedies will make its market debut on Monday after its initial public offering drew strong interest from investors, subscribing 137 times during the December 8–10 bidding period.

The Rs 655-crore issue earlier garnered Rs 195 crore from anchor investors. The company had set a price band of Rs 1,008–1,062 per share.

Market analysts expect the stock to list with solid gains.

According to platforms tracking the grey market activities, the shares of Corona Remedies are commanding a GMP between 27-30 percent. Investorgain quoted a GMP of Rs 321 for the shares of the company, indicating a listing gain of 30.23 percent. Meanwhile, IPO Watch quoted a GMP of 27 percent.

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Shivani Nyati, Head of Wealth at Swastika Investmart, said the shares are likely to debut at a premium of 25–27 percent, in the range of Rs 1,330–1,350. She suggested short-term investors may consider booking partial profits, while long-term investors could hold the remainder given the company’s steady performance and presence in chronic therapy segments.

Mahesh M Ojha, Vice President – Research & Business Development at Kantilal Chhaganlal Securities, said Corona Remedies, though smaller in size, has been expanding rapidly in key segments and strengthening its prescription base. He advised investors to book some listing gains and retain the balance for long-term opportunities, noting that the company is valued at a price-to-earnings multiple of 43.4 times based on FY25 earnings.

Analysts said the company has built a stable product portfolio over the years and has seen consistent growth in the domestic market.