Pharma Firm Corona Remedies' IPO Receives 137.04 Times Subscription On The Closing Day Of Share Sale

New Delhi: The initial public offering of pharma firm Corona Remedies received 137.04 times subscription on the closing day of share sale on Wednesday.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.

The portion for Qualified Institutional Buyers (QIBs) was subscribed 278.52 times, while the quota for Non Institutional Investors received 208.88 times subscription. The Retail Individual Investors (RIIs) part subscribed 28.73 times.

Corona Remedies on Friday mobilised Rs 195 crore from anchor investors.It has fixed a price band of Rs 1,008-1,062 per share for IPO.The company's IPO is entirely an offer for sale by promoters and existing investors.

Under the OFS route, existing investors -- Sepia Investments, Anchor Partners, and Sage Investment Trust -- along with promoters, plan to offload shares.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.Its diversified product portfolio comprises 67 brands catering to a range of therapeutic areas as of December 2024. 

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