In December 2025, India’s IPO market continues to see strong traction, with several established companies heading to the primary market to capitalise on favourable investor sentiment. Pharma and healthcare sector remain among the most active sectors, supported by rising domestic demand and strong spending on specialty treatments across India. Against this backdrop, Corona Remedies Limited is set to open its IPO on December 8, 2025, offering investors an opportunity to participate in one of the country’s fast-growing pharmaceutical brands.
Below is a detailed look at Corona Remedies Ltd., its IPO structure, financial performance, and competitive strengths.
About Corona Remedies Ltd.
Incorporated in August 2004, Corona Remedies Limited is a pharmaceutical company engaged in developing, manufacturing, and marketing products across key therapeutic areas, such as:
- Women’s healthcare
- Cardiology
- Pain management
- Urology
- Multispecialty segments like vitamins/minerals/nutrition, gastrointestinal, and respiratory
As of June 30, 2025, the company’s portfolio includes 71 brands, with a strong presence in both specialist and mass-prescription categories.
Corona Remedies has built a pan-India distribution network, with 2,671 medical representatives across 22 states, enabling deep reach among healthcare professionals, hospitals, and clinics.
The company owns two manufacturing facilities in Gujarat, with a combined installed capacity of 1,285.44 million units per annum, supporting its large-scale production capability.
Corona Remedies Ltd. IPO Details
The Corona Remedies IPO is a ₹655.37 crore book-built issue, consisting entirely of an Offer For Sale (OFS) of 61,71,101 shares. No fresh issue is included.
Key IPO Highlights
| IPO Date | December 8, 2025, to December 10, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹1008 to ₹1062 per share |
| Lot Size | 14 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 61,71,101 shares (aggregating up to ₹655.37 Cr) |
| Employee Discount | ₹54.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 6,11,60,088 shares |
| Share Holding Post Issue | 6,11,60,088 shares |
The promoters of the company are Dr. Kirtikumar Laxmidas Mehta, Niravkumar Kirtikumar Mehta, and Ankur Kirtikumar Mehta.
JM Financial Ltd. is the book-running lead manager, and Bigshare Services Pvt. Ltd. is the registrar of the issue.
Important IPO Timeline
| Event | Date |
| IPO Open Date | December 8, 2025 |
| IPO Close Date | December 10, 2025 |
| Allotment Date (Tentative) | December 11, 2025 |
| Initiation of Refunds | December 12, 2025 |
| Credit of Shares to Demat | December 12, 2025 |
| Listing Date (Tentative) | December 15, 2025 |
| UPI Mandate Deadline | 5 PM on December 10, 2025 |
IPO Lot Size
| Application Category | 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 |
Corona Remedies Ltd. Financials
Corona Remedies has demonstrated consistent growth across revenue and profitability over the years. Revenue increased 18%, while PAT surged 65% between FY24 and FY25.
Key Financials (₹ Crore)
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 1,012.38 | 929.86 | 830.58 | 595.02 |
| Total Income | 348.56 | 1,202.35 | 1,020.93 | 891.10 |
| Profit After Tax | 46.20 | 149.43 | 90.50 | 84.93 |
| EBITDA | 71.80 | 245.91 | 161.19 | 135.03 |
| Net Worth | 607.02 | 606.34 | 480.41 | 408.52 |
| Reserves & Surplus | 545.86 | 545.18 | 419.25 | 347.36 |
| Total Borrowing | 106.65 | 62.70 | 134.14 | 2.33 |
Key Performance Indicators (KPI)
| KPI | Value |
| 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 Capitalisation | ₹6,495.20 crore |
Pre & Post IPO EPS & P/E
| Metric | Pre IPO | Post IPO |
| EPS (₹) | 24.43 | 30.21 |
| P/E (x) | 43.47 | 35.15 |
Corona Remedies Ltd.: Industry Outlook
- The company ranks as the second fastest-growing pharmaceutical company in the top 30 Indian pharma players by domestic sales (MAT June 2022 to MAT June 2025).
- Strong demand across women’s healthcare, cardiology, pain management, and multispecialty segments continues to drive growth in India’s pharma market.
- With strong R&D focus and Good Manufacturing Practices-compliant facilities, the company is well-prepared for long-term expansion.
- Growing healthcare spend and increasing access to speciality treatments create a favourable market backdrop for established pharma companies like Corona Remedies.
Corona Remedies IPO: Peer Comparison
Corona Remedies IPO can be compared with peers such as Abbott India Ltd, Alkem Laboratories Ltd, ERIS Lifesciences Ltd, Glaxosmithkline Pharmaceuticals Ltd, J B Chemicals & Pharmaceuticals Ltd, Mankind Pharma Ltd, Pfizer Ltd, Sanofi India Ltd, and Torrent Pharmaceuticals Ltd. Reviewing these companies helps investors understand Corona Remedies’ positioning within the Indian pharmaceutical sector, offering useful insights into its scale, product mix, and competitive strength before making informed investment decisions.
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Conclusion
Corona Remedies Ltd. presents a compelling investment opportunity given its strong brand portfolio, growing presence across therapeutic categories, and robust pan-India distribution network. Its healthy financial growth, scalable manufacturing capabilities, and experienced leadership further enhance its market position.
However, since the IPO is entirely an Offer For Sale (OFS), the proceeds will not directly contribute to business expansion. Investors should also evaluate competitive pressures and regulatory considerations within the pharmaceutical industry before making investment decisions.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
