Corona Remedies Share Listing on NSE, BSE: Stock makes strong debut, lists at premium of 36.72%

Shares of Corona Remedies made a strong market debut, listing at Rs 1,470, up 37% from the issue price of Rs 1,062. It later touched a high of Rs 1,497.80, a gain of 1.89 per cent.

In the pre-opening session, Corona Remedies shares settled at Rs 1,445.50 on the NSE, a premium of 36.11 per cent to the issue price of Rs 1,062.

In the pre-opening session, Corona Remedies shares settled at Rs 1,452 on the BSE, a premium of 36.72 per cent to the issue price of Rs 1,062.

Its diversified product portfolio comprises 67 brands catering to a range of therapeutic areas as of December 2024.

Headquartered in Ahmedabad, Corona Remedies is a pharmaceutical formulation company engaged in developing, manufacturing and marketing products in women's healthcare, cardio-diabeto, pain management, urology and other therapeutic areas.

Ahead of listing, unlisted shares of Corona Remedies are trading at a grey market premium (GMP) of Rs 342.5. Considering the upper price band of Rs 1062, the company's shares are expected to list at around Rs 1404.5, reflecting a grey market premium of 32.25 per cent.

Headquartered in Ahmedabad, the company's IPO is entirely an offer for sale by promoters and existing investors.

The Rs 655.37-crore initial public offering (IPO) received bids for 62.65 crore (62,65,41,440) equity shares against 45,71,882 shares on offer, according to the NSE data.