Corona Remedies made a strong stock market debut on Monday, December 15, as it is listed at over 48% premium over its initial public offering (IPO) price. The Corona Remedies IPO was subscribed by 137.04 times between December 8 and December 10 in the primary market.
The shares of Corona Remedies were listed at Rs 1,470 per share on the National Stock Exchange (NSE), premium of 38.42% over the IPO price. The Rs 655.37-crore issue had a price band of Rs 1,008-Rs 1,062 per share with the minimum investment of Rs 1,062 with a lot size of 14 shares.
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The share price of Corona Remedies on the Bombay Stock Exchange (BSE) was listed at Rs 1,452 per share, a premium of 36.72%. The company's market capitalisation post listing of shares stood at Rs 8,880.44 crore, according to Money Control.
The shares debut of Corona Remedies IPO was better than what was predicted in the grey market premium (GMP), which had forcasted a 32% gains. Earleir, the issue mobilised Rs 195 crore from anchor investors.