Corona Remedies IPO Sees Strong Momentum on Day 2; Subscription Touches 2x

Market Performance

The sentiment around the Corona Remedies IPO remained firm as the issue entered its second day of bidding on December 9. The pharma company drew steady interest across categories, pushing the overall subscription to around 2 times the offer size.

Retail participation also stayed active, while non-institutional bidders delivered a stronger turnout, lifting the numbers early in the day.

Main News: Corona Remedies IPO Subscription Highlights

The Corona Remedies IPO continued to attract demand during its second day of public bidding. By 11:18 AM on December 9, the IPO logged bids for 86.18 lakh shares against the offer size of 45.72 lakh shares, reflecting solid traction.

Here’s how different investor categories responded:

• Overall subscription: ~2x
• Retail portion: Booked more than 2x
• NII (Non-Institutional Investors): Subscribed around 4x
• QIB (Qualified Institutional Buyers): Around 2% of their reserved quota bid so far

This broad-based participation kept the Corona Remedies IPO in focus as one of the actively tracked issues in the pharma IPO segment.

Company & IPO Details

The Corona Remedies IPO is structured as a complete Offer for Sale (OFS), amounting to over ₹655 crore. With no fresh issue included, the entire proceeds will be received by the existing shareholders who are offloading their stake.

Here are the key issue details in simple, reader-friendly pointers:

• IPO Size: Over ₹655 crore (entirely OFS)
• Price Band: ₹1,008–₹1,062 per share
• Bid Lot: Minimum of 14 shares (₹14,868 per lot)
• IPO Window:
  • Opens: December 8
  • Closes: December 10
• Allotment Date: Likely on December 11
• Listing Date: Scheduled for December 15 on BSE and NSE

The company operates in the pharmaceutical space with presence across multiple therapeutic categories, making this IPO one of the notable offerings in the sector this month.

Summary

The Corona Remedies IPO recorded a healthy subscription pace as Day 2 progressed, reaching around 2x the total offer size with active participation from retail and non-institutional investors. With its fully OFS structure of over ₹655 crore, the issue remains centred around shareholder dilution rather than new capital infusion.

As the bidding window heads toward its final day, investors continue to track subscription trends and procedural milestones, including allotment and listing dates.