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InvestmentsIPOCorona Remedies IPO

Corona Remedies IPO

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Open Date

8 Dec 2025

Close Date

10 Dec 2025

Min Investment

₹ 14,868

Lot Size

14

Issue Size

₹ 655.37 Cr

Price Range

₹ 1,008 - ₹ 1,062

Subscribed

136.18 x
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This IPO is now Live.

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IPO Timeline
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IPO Offer Start
8 Dec 2025
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IPO Offer Ends
10 Dec 2025
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Allotment Finalisation
11 Dec 2025
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Refund Initialisation
12 Dec 2025
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Non-Institutional Buyers (sHNI)
12 Dec 2025
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Listing of Shares
15 Dec 2025
IPO Subscription Details as on 2 Apr 2026, 01:50 AM
Qualified Instituational Buyers (QiB)
278.52 x
Retail
27.25 x
Employees
14.19 x
Total
136.18 x
Non-Institutional Buyer (bHNI)
234.02 x
Non-Institutional Buyer (sHNI)
156.83 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
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 is the second fastest growing among the top 30 companies in the Indian Pharmaceutical Market by domestic sales between MAT June 2022 and MAT June 2025. The company has a diversified product portfolio comprising 71 brands catering to chronic and sub-chronic therapeutic areas, with 27 'engine' brands contributing to 72.34% of domestic sales during MAT June 2025.
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Founded In

2004

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Director

Dr. Kirtikumar Laxmidas Mehta

Financials of Corona Remedies IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue884.051,014.471,196.41
Other Income7.056.465.94
Total Income
891.101,020.931,202.35
Total Expenses
756.07859.74956.44
Profit Before Tax110.89118.48198.53
Total Profit
84.9390.50149.43

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company aims to enhance its visibility and brand while providing liquidity to existing shareholders. Listing will also provide a public market for the equity shares in India.-
The offer involves sale of equity shares by existing shareholders including promoters and investors. The company will not receive any proceeds from this offer for sale.655
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  • Second fastest growing company within the top 30 pharmaceutical companies in the Indian pharmaceutical market: The company is 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, with domestic sales growing at a CAGR of 16.77% compared to the IPM which grew at a CAGR of 9.21%.
  • Demonstrated capabilities of building a diversified portfolio, including 'engine' brands: The company has a diversified portfolio of products with 71 brands catering to therapeutic areas such as women's healthcare, cardio-diabeto, pain management, and urology. The targeted therapy areas contributed 68.26% of domestic sales for MAT June 2025, growing at a 22.40% CAGR.
  • Low exposure to the National List of Essential Medicines: The company maintains low exposure to NLEM, ensuring greater pricing flexibility and revenue sustainability. For MAT June 2025, only 9.76% of total sales falls under NLEM 2022, compared to 17.51% for the overall IPM.
  • Brand leadership: The company has achieved leadership position in several brands. Myoril, COR and Trazer brands each hold the #1 rank in their respective sub-groups in terms of MAT June 2025 domestic sales, with multiple other brands ranking in top 5 positions.
  • 'Engine' brands: Approach towards brand building: The company has an established track record of building and scaling brands, with 27 'engine' brands contributing to 72.34% of domestic sales during MAT June 2025. These engine brands have collectively grown at a CAGR of 20.68% over MAT June 2022 to MAT June 2025.
  • Focused growth within the chronic and sub-chronic segments: The company demonstrated growth in chronic and sub-chronic therapeutic segments, with domestic sales from chronic and sub-chronic segment contributing ₹10,013.07 million (or 70.10%) of total domestic sales during MAT June 2025, growing at a CAGR of 20.48%.
  • Pan-India sales network and marketing strategy focused on the 'middle of the pyramid' target market: The company's strategy of focusing on specialist doctors has driven growth to outpace overall prescription growth in the IPM. Specialists and super-specialists contributed 75.75% of prescriptions during MAT June 2025, supported by a field force of 2,671 medical representatives.
  • Quality and current Good Manufacturing Practices-focused manufacturing facilities with strong R&D capabilities: The company operates two manufacturing facilities with aggregate installed capacity of 1,285.44 million units per annum and 11 production lines. The facilities are EU GMP and WHO GMP-certified, supported by 103 R&D employees and 220 quality personnel.
  • Qualified, experienced and entrepreneurial management team supported by marquee investors: The company is led by a management team with diverse backgrounds, founded by promoters with over 20 years of pharmaceutical industry experience, mentored by Dr. Kirtikumar Laxmidas Mehta with over 36 years of medical practice experience.

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