Corona Remedies raises nearly Rs 195 crore from 15 anchor investors ahead of Rs 655-crore IPO

Corona Remedies IPO News

Pharmaceutical company Corona Remedies on December 5 has raised Rs 194.85 crore from 15 institutional investors via anchor book ahead of its Rs 655-crore initial public offering (IPO).

The public issue is entirely an offer-for-sale with no fresh issue component. The price band for the offer, which opens for public subscription during December 8-10, is Rs 1,008-1,062 per share.

Corona Remedies has finalised allocation of 18.34 lakh shares to anchor investors at the upper price band.

"Out of the total allocation to anchor investors, 13.59 lakh shares worth Rs 144.4 crore were allocated to 11 domestic mutual funds including SBI Mutual Fund, ICICI Prudential MF, Kotak Mahindra AMC, Axis Mutual Fund, Mirae Asset, Aditya Birla Sun Life AMC, Invesco, DSP MF, Franklin India, and Tata MF which have applied through their a total of 13 schemes," the company in its filing to exchanges said.

Other investors participated in the anchor book included SBI Life Insurance, Ashoka India, FSSA Indian Subcontinent Fund, and IIFL Asset Management.

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As it is a complete offer-for-sale, the company will not receive any money from the public issue and all the funds, excluding offer expenses, will go to the selling shareholders including Dr Kirtikumar Laxmidas Mehta, Sepia Investments, Sage Investment Trust, and Anchor Partners.

The company will finalise IPO share allotment by December 11, and make its market debut on December 15.

Corona Remedies that valued at Rs 6,495 crore with the launch of IPO is a pharmaceutical formulation company developing products in women’s healthcare, cardio-diabeto, pain management, urology and other therapeutic areas.

Corona Remedies raises nearly Rs 195 crore from 15 anchor investors ahead of Rs 655-crore IPO

recorded profit of Rs 46.2 crore on revenue of Rs 346.5 crore for the quarter ended June 2025.

Further, it has registered a strong 65.1 percent growth in profit at Rs 149.4 crore for the financial year ended March 2025, up from Rs 90.5 crore in previous year. Revenue during the same period increased by 18 percent to Rs 1,196.4 crore, up from Rs 1,014.5 crore.

JM Financial, IIFL Capital Services, and Kotak Mahindra Capital Company are acting as the merchant bankers for the Corona Remedies IPO.