Corona Remedies Limited is a rapidly growing Indian pharmaceutical company engaged in the development, manufacturing, and marketing of branded prescription medicines.
The company operates across several high-growth therapeutic areas, including women’s healthcare, cardiology, pain management, urology, and a wide range of multispecialty segments such as vitamins & minerals, nutrition, gastrointestinal, and respiratory care.
As of December 2024, Corona Remedies has built a robust portfolio of 67 brands, addressing both chronic and acute medical needs. Its strategic focus across cardio-diabetes, women’s healthcare, pain relief, and specialty therapies positions the company strongly within the competitive Indian Pharmaceutical Market.
The company has established a powerful pan-India marketing and distribution network, backed by 2,598 medical representatives spread across 22 states.
This extensive reach ensures consistent engagement with:
- Healthcare professionals
- Hospitals
- Clinics
- Regional distributors
Corona Remedies operates two manufacturing facilities in Gujarat, designed to support high-quality production with compliance to Indian and global standards. These facilities enable the company to scale efficiently while maintaining control over product quality and supply reliability.
Corona Remedies drives innovation through its 88-member R&D team, focusing on new formulations, product upgrades, and technology-led efficiencies to support future growth.
Corona Remedies IPO – Details
| IPO Opening Date | 08 December 2025 |
| IPO Closing Date | 10 December 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 61,71,102 Shares Worth ₹655.37 Crore Offer For Sale: 61,71,102 Shares Worth ₹655.37 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹1008 – ₹1062 per share |
| Market Lot | 14 Shares |
| Min Order | 14 Shares [ 1 Lot ] |
| Employee Discount | ₹54 |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Corona Remedies IPO – Date Schedule
| IPO Open Date | 08 December 2025 |
| IPO Close Date | 10 December 2025 |
| Basis of Allotment | 11 December 2025 |
| Initiation of Refund | 12 December 2025 |
| Credit of Shares to Demat Account | 12 December 2025 |
| IPO Listing Date | 15 December 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 10, 2025 |
Corona Remedies IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 14 | ₹14,868 |
| Retail (Max) | 13 | 182 | ₹1,93,284 |
| S-HNI (Min) | 14 | 196 | ₹2,08,152 |
| S-HNI (Max) | 67 | 938 | ₹9,96,156 |
| B-HNI (Min) | 68 | 952 | ₹10,11,024 |
Competitive Strength
- Second fastest growing company in the top 30 Indian pharmaceutical companies by domestic sales from MAT December 2021 to MAT December 2024, 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.
- Qua196lity and current Good Manufacturing Practices-focused manufacturing facilities, with strong research and development capabilities, are driving a portfolio of differentiated pharmaceutical products.
- Qualified, experienced, and entrepreneurial management team supported by marquee investors.
Company Promoters
- Dr. Kirtikumar Laxmidas Mehta
- Niravkumar Kirtikumar Mehta
- Ankur Kirtikumar Mehta
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹891.10 Cr | ₹756.07 Cr | ₹84.93 Cr | ₹2.33 Cr |
| 31 March 2024 | ₹1,020.93 Cr | ₹859.74 Cr | ₹90.50 Cr | ₹134.14 Cr |
| 31 March 2025 | ₹1,202.35 Cr | ₹956.44 Cr | ₹149.43 Cr | ₹62.70 Cr |
| 30 June 2025 | ₹348.56 Cr | ₹276.76 Cr | ₹46.20 Cr | ₹106.65 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 27.50% |
| ROCE | 41.32% |
| Debt/Equity | 0.10 |
| RoNW | 24.65% |
| PAT Margin | 12.49% |
| EBITDA Margin | 20.55% |
| Price to Book Value | 10.71 |
| Market Capitalization | ₹6,495.20 Cr. |
| Pre IPO | Post IPO | |
| EPS (₹) | 24.43 | 30.21 |
| P/E (x) | 43.47 | 35.15 |
Object Of The Issue
- The IPO is primarily an Offer for Sale of up to ₹800.00 Crore, with all proceeds going to the selling shareholders. The listing aims to enhance visibility, provide liquidity to shareholders, and unlock the benefits of being a publicly listed company. The company will not receive any funds from this offer.
Corona Remedies IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Abbott India Limited | 45.17 |
| 2 | 2 | Alkem Laboratories Limited | 31.39 |
| 3 | 1 | Eris Lifesciences Limited | 61.81 |
| 4 | 10 | GlaxoSmithKline Pharmaceuticals Limited | 46.87 |
| 5 | 1 | J.B. Chemicals & Pharmaceuticals Limited | 42.60 |
| 6 | 1 | Mankind Pharma Limited | 45.77 |
| 7 | 10 | Pfizer Limited | 29.63 |
| 8 | 10 | Sanofi India Limited | 24.47 |
| 9 | 5 | Torrent Pharmaceuticals Limited | 65.91 |
✅Strengths
- Strong IPM presence; ranked 30th with a fast 19.9% CAGR growth.
- 67-brand portfolio with strong mother brands driving ~73% sales.
- Large field force: 2,598 MRs in 22 states, enabling deep reach.
- Focus on high-growth chronic therapies (cardio-diabeto, women’s health).
- Two Gujarat manufacturing units ensuring quality & scale.
- 88-member R&D team driving new formulations and innovation.
- Consistently improving revenue, EBITDA & profitability.
⚠️Risks
- IPO is 100% OFS; the company receives no funds.
- Heavy revenue dependence on top brands.
- Strong competition from large pharma players.
- High regulatory and compliance exposure.
- Dependence on doctor prescriptions & MR productivity.
- Supply chain and raw material cost risks.
- Price-control & chronic therapy concentration risk.
Corona Remedies IPO Promoter Holding
| Pre Issue Share Holding | 72.50% |
| Post Issue Share Holding | 69.00% |
Corona Remedies IPO Prospectus
Company Contact Information
| Corona Remedies Ltd. CORONA House, C – Mondeal Business Park Near Gurudwara S. G. Highway Thaltej Ahmedabad, Gujarat, 380059 Phone: +91 79 4023 3000 Email: complianceofficer@coronaremedies.com Website: https://www.coronaremedies.com/ |
Corona Remedies IPO Registrar
| Bigshare Services Pvt.Ltd. Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Corona Remedies IPO Lead Manager(s)
| 1. JM Financial Limited 2. IIFL Capital Services Limited 3. Kotak Mahindra Capital Company Limited |
Corona Remedies IPO FAQs
| What is the Corona Remedies IPO? Corona Remedies IPO is a main-board IPO. The issue is priced at ₹1008 to ₹1062 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Corona Remedies IPO open? The IPO is to open on 08 December 2025 for QIB, NII, and Retail Investors. |
| What is Corona Remedies IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is Corona Remedies IPO Size? Corona Remedies IPO size is ₹655.37 Crore. |
| What is the Corona Remedies IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 14 Shares with ₹14,868, while the maximum bid is 182 Shares with ₹1,93,284. |
| What is the Corona Remedies IPO Allotment Date? Corona Remedies IPO allotment date is 11 December 2025. |
| What is the Corona Remedies IPO Listing Date? Corona Remedies IPO listing date is 15 December 2025. The IPO is to be listed on the BSE and NSE. |
