Corona Remedies IPO To Open On Monday, December 08, 2025
FinTech BizNews Service
Mumbai, December 03, 2025: Corona Remedies Limited (CRL) will open the Bid / Offer in relation to its initial public offering (IPO) of the Equity Shares on Monday, December 08, 2025. The Bid/Offer will close on Wednesday, December 10, 2025. The Price Band has been fixed at Rs1,008 to Rs1,062 per Equity Share. JM Financial Limited, IIFL Capital Services Limited and Kotak Mahindra Capital Company Limited are the Book Running Lead Managers to the Offer.
The Anchor Investor Bidding Date shall be on Friday, December 05, 2025. Bids can be made for a minimum of 14 Equity Shares and in multiples of 14 Equity Shares thereafter. The Offer comprises an offer for sale (OFS) of Up to [●] Equity Shares of face value of Rs10 each aggregating up to Rs6,553.71 million.
The OFS comprises of up to [●] Equity Shares of face value of Rs10 each aggregating up to
Rs1,298.41 million by Dr. Kirtikumar Laxmidas Mehta (Promoter Selling Shareholder); Up to [●]
Equity Shares of face value of Rs10 each aggregating up to Rs766.07 million by Minaxi Kirtikumar
Mehta (Promoting Group Selling Shareholder); Up to [●] Equity Shares of face value of Rs10 each
aggregating up to Rs103.87 million by Dipabahen Niravkumar Mehta (Promoting Group Selling
Shareholder); Up to [●] Equity Shares of face value of Rs10 each aggregating up to Rs103.87
million by Brinda Ankur Mehta (Promoting Group Selling Shareholder) & Up to [●] Equity Shares
of face value of Rs10 each aggregating up to Rs 4,046.00 million by Sepia Investments Limited
(Investor Selling Shareholder) ; Up to [●] Equity Shares of face value of Rs10 each aggregating
up to Rs151.25 million by Anchor Partners (Investor Selling Shareholder); Up to [●] Equity Shares
of face value of Rs10 each aggregating up to Rs84.24 million by Sage Investment Trust (Investor
Selling Shareholder).
A discount of Rs 54 per Equity Share is being offered to Eligible Employees bidding in the
Employee Reservation Portion.
The Equity Shares, offered through the Red Herring Prospectus of the Company (“RHP”) are
proposed to be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited
(“BSE” and together with NSE, the “Stock Exchanges”).
Corona Remedies is an India-focused branded pharmaceutical formulation company engaged in
developing, manufacturing and marketing products in women’s healthcare, cardio-diabeto, pain
management, urology and other therapeutic areas. The company has a diversified product
portfolio comprising 71 brands catering to a range of therapeutic areas as of June 30, 2025.
According to the CRISIL Intelligence Report, Corona Remedies is the fastest growing company
among the top 30 companies in the Indian Pharmaceutical Market (“IPM”) in terms of domestic
sales in the IPM, between MAT June 2024 and MAT June 2025. *MAT is the moving annual
total. Corona Remedies was the second fastest growing company among the top 30 companies
in the IPM in terms of domestic sales between MAT June 2022 and MAT June 2025.
• Women’s healthcare: Brands across the women’s healthcare lifecycle, from adolescence to
infertility, pregnancy, post-pregnancy and pre- and post-menopause categories;
• Cardio-diabeto: Brands across different stages of diabetes treatment, ranging from insulin
resistance, pre-diabetes to diabetes and diabetes-related complications, as well as cardiac disorders such
as hypertension, dyslipidemia and ischemic heart disease;
• Pain Management: Four dosage forms in pain management formulations, which the company
offers in the form of tablets, capsules, sprays and injections for treatments associated with musculoskeletal
spasms and diabetes neuropathy pain, among others.
• Urology: Brand offerings across multiple urological disorders, such as benign prostatic
hyperplasia, overactive bladder, urinary tract infections and stone management.
The IPO is an Offer in terms of Rule 19(2)(b) of the SCRR, read with Regulation 31 of the SEBI
ICDR Regulations. The Offer is being made through the Book Building Process in terms of
Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer shall
be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs and
such portion, the “QIB Portion”), provided that the Company, in consultation with the BRLMs,
may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor
Investor Portion”), out of which one-third shall be reserved for domestic Mutual Funds, subject to
valid Bids being received from domestic Mutual Funds at or above the price at which allocation
is made to Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI
ICDR Regulations.
In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance
Equity Shares shall be added to the QIB Portion (other than Anchor Investor Portion) (“Net QIB
Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate
basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for
allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid
Bids being received from them at or above the Offer Price. However, if the aggregate demand
from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available
for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for
proportionate allocation to QIBs.
Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional
Bidders (“Non Institutional Portion”) of which (a) one third of the Non-Institutional Portion shall be
reserved for Bidders with an application size of more than Rs200,000 and up to Rs1,000,000 and
(b) two-thirds of the Non-Institutional Portion shall be reserved for Bidders with an application
size exceeding Rs1,000,000 provided under-subscription in either of these two sub-categories of
Non-Institutional Portion may be allocated to Bidders in the other subcategory of Non-
Institutional Portion, and not less than 35% of the Net Offer shall be available for allocation to
Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids
being received from them at or above the Offer Price.
