Corona Remedies made a noteworthy debut on Dalal Street, launching with a 38.42% premium over its IPO price of Rs 1,062. The shares are currently trading on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). As of 11:11 AM, the stock was priced at Rs 1,470 on the NSE and Rs 1,473 on the BSE, showing a 1.45% increase.
Corona Remedies IPO Performance
The initial public offering (IPO) of Corona Remedies was valued at Rs 655 crore and was fully structured as an offer for sale. It attracted robust interest from investors, being oversubscribed 144.5 times overall. Institutional investors demonstrated significant enthusiasm, with qualified institutional buyers subscribing nearly 294 times and non-institutional investors over 220 times. Retail investors also showed strong participation, taking up their allocation more than 30 times. This high demand highlights solid confidence in the company’s business strategy, product offerings, and earnings potential. Notably, Corona Remedies did not raise new capital through the IPO; all proceeds were directed to selling shareholders. The company entered the public market with a strong balance sheet and a history of consistent profitability. Based on the IPO price, its market valuation is roughly Rs 6,495 crore, with a post-issue price-to-earnings multiple of around 35 times, calculated using annualized FY26 earnings. Despite the elevated valuation, investors appear willing to pay a premium for the company’s steady growth and high margins.
Financial Performance
Corona Remedies has shown impressive financial growth. For fiscal year 2025, the company reported an 18% increase in revenue, reaching Rs 1,202 crore. Additionally, profit after tax soared by 65% to Rs 149 crore. For the quarter ending June 2025, the profit after tax was Rs 46 crore, indicating sustained momentum into FY26. The company enjoys strong return ratios, with a return on equity (ROE) of 27.5% and a return on capital employed (ROCE) exceeding 41%. This strong performance is supported by disciplined capital management and a low debt-to-equity ratio of 0.1. Before the IPO, anchor investors had committed nearly Rs 195 crore, adding credibility and stability to the offering. The involvement of long-only domestic and global funds in the anchor book helped create strong institutional demand during the public sale.
Company Overview
Founded with a focus on women’s healthcare, cardiology, pain management, urology, and other chronic therapies, Corona Remedies has established a comprehensive distribution network across 22 states in India. The company employs over 2,600 medical representatives, ensuring a wide reach for its products. This strategic emphasis on diverse therapeutic areas positions Corona Remedies as a significant player in the healthcare sector, addressing various medical needs. The company’s commitment to quality and innovation continues to propel its growth and market presence, making it a noteworthy entrant in the public markets.
Digihunt is not a financial advisor and this is not investment advice.