The initial public offering (IPO) of a pharma company, Corona Remedies, has opened for public subscription on Monday, December 8, with a price band of Rs 1,008 to Rs 1,062. The Rs 655 crore IPO with a lot size of 14 shares with a minimum subscription price of Rs 14,112 will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 15. The tentative allotment date is set on Thursday, December 11.
Corona Remedies IPO GMP
The shares of the Ahmedabad-based pharma company are trading at Rs 290 per share in the grey market premium (GMP), on Monday, 9.34 am, according to Investorgain.com. The estimated listing is Rs 1352, which is 27.31% over the IPO band price of Rs 1062.
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About Corona Remedies
Backed by private equity firm ChrysCapital, Corona Remedies operates across women's health, cardiovascular disease, pain management, urology and several other therapeutic segments. The company has raised Rs 195 crore from anchor investors. As per the data on BSE, the company allotted Rs 18.36 lakh shares to anchor investors at Rs 1,062 per share. SBI Mutual Fund, ICICI Prudential MF, HDFC MF, Kotak MF, Axis MF, DSP MF, Invesco MF, and SBI Life Insurance Company are the leading anchor investors.