Corona Remedies its Rs. 655 crore IPO will open for subscription next week. The Gujarat-based pharmaceutical company is coming to the market with a 100% offer for sale, and the gray market premium (GMP) is currently around Rs. 307 or about 29% at the upper end of the price band. Here are 10 key things investors should know before the IPO opens on December 8.

IPO Size: Rs. 655 crore, entirely OFS

The issue is Rs. There is a complete offer for sale of 61.71 lakh shares worth Rs 655.37 crore. New capital is not being raised.

Price band

Investors can bid in this category. At the upper end, the minimum retail amount for a lot is Rs. 14,868 occurs.

Key dates: December 8 to 10

The issue opens on Monday and closes on Wednesday. Allotment is expected on December 11 and listing on December 15.

GMP at 29%

Gray market premium is currently Rs. around 307, indicating an unofficial upside of around 29% before the open.

Who sells shares?

Promoters Dr Keerthikumar Mehta, Niravkumar Mehta, and Ankur Mehta, along with other shareholders, are offloading part of their holdings. Promoter’s share pre-issue is 72.5%.

About the company

Corona Remedies is a domestically-focused pharmaceutical company with 71 brands in women’s healthcare, cardio-diabetes, pain management, urology and multispecialty therapies. It has a network of over 2,671 medical representatives in 22 states.

Product footprint

The company operates two facilities in Gujarat with an annual installed capacity of 1,285 million units. It also has R&D capabilities supporting various formulations.

Strong financial growth

Revenue in FY25 grew by 18% to Rs. 1,202 crore, while profit after tax rose 65% to Rs. 149 crores. EBITDA margin is 20.55% and PAT margin is 12.49%.

High return ratio

Corona Remedies reports ROE of 27.5%, ROCE of 41.3% and low leverage with debt-equity of 0.10, indicating strong balance-sheet quality.

Lead manager and list

JM Financial is the sole book-running lead manager. Shares will be listed on NSE and BSE.