Incorporated in August 2004, Corona Remedies Limited is a pharmaceutical company developing, manufacturing, and marketing products in women’s healthcare, cardiology, pain management, urology, and other therapeutic areas.
As of June 30, 2025, the company's diverse portfolio includes 71 brands across therapeutic areas like women’s healthcare, cardio-diabeto, pain management, urology, and multispecialty pharmaceuticals (including vitamins/minerals/nutrition, gastrointestinal, and respiratory).
The company has a pan-India marketing and distribution network with 2,671 medical representatives in 22 states, enabling effective engagement with healthcare professionals and hospitals, consolidating its presence in the IPM and ensuring deep penetration in therapeutic areas.
The company has two manufacturing facilities, located in the states of Gujarat with an aggregate installed capacity for formulations of 1,285.44 million units per annum.
Competitive Strength:
- Second fastest growing company in the top 30 Indian pharmaceutical companies by domestic sales from MAT June 2022 to MAT June 2025, well-positioned to seize opportunities in the Indian market.
- Demonstrated capabilities of building a diversified portfolio, including “engine” brands, in our targeted therapy areas.
- Pan-India sales network and marketing strategy focused on the “middle of the pyramid” target market.
- Quality and current Good Manufacturing Practices-focused manufacturing facilities, with strong research and development capabilities driving a portfolio of differentiated pharmaceutical products.
- Qualified, experienced and entrepreneurial management team supported by marquee investors.
| Purpose | Amount (₹ Cr) |
|---|---|
| BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | ₹21 |
| Fees payable to the Registrar to the Offer | ₹1 |
| Selling commission/processing fee for SCSBs and Bankers to the Offer, fee payable to the Sponsor Bank(s) for Bids made by RIIs using UPI, brokerage and selling commission and bidding charges for the Members of the Syndicate, Registered Brokers, RTAs and CDPs | ₹3 |
| Advertising and marketing expenses | ₹2 |
| Others: Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees | ₹7 |
| Other regulatory expenses | ₹1 |
| Fees payable to legal counsels, statutory auditors, independent chartered accountants, practising company secretary, intellectual property consultants, industry service provider and others | ₹9 |
| Printing and distribution of issue stationery | ₹4 |
| Miscellaneous | ₹4 |
| Metric | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 1,012 | 930 | 831 |
| Revenue | 349 | 1,202 | 1,021 |
| PAT | 46 | 149 | 91 |
| EBITDA | 72 | 246 | 161 |
| Net Worth | 607 | 606 | 480 |
| Reserves | 546 | 545 | 419 |
| Total Borrowing | 107 | 63 | 134 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 3,056,533 (50%) | — |
| NII / HNI | — | 916,960 (15%) | — |
| Retail (RII) | — | 2,139,573 (35%) | — |
| Employee | — | 58,036 (1%) | — |
| Total | — | 6,171,102 (100%) | — |
* Amount calculated at upper price band (₹1,062) · ** Total includes all investor categories
- 1 Initiation of Refund 12 Dec 2025
- 2 Credit of Shares to Demat 12 Dec 2025
- Retail allocation is good at 35% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 50%.
- The IPO P/E of 35x reflects a moderate valuation relative to typical market ranges.
- Pre-issue EPS of ₹24 compares to post-issue EPS of ₹30 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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