· Price Band fixed at ₹1,008 to ₹1,062 per Equity Share of face value of ₹10 each of Corona Remedies Limited (“Equity Shares”);
· Bid /Offer will open on Monday, December 08, 2025 and close on Wednesday, December 10, 2025. The Anchor Investor Bidding Date is Friday, December 05, 2025;
· Bids can be made for a minimum of 14 Equity Shares and in multiples of 14 Equity Shares thereafter;
· A discount of ₹54 per Equity share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
· Red Herring Prospectus (“RHP”) link: https://live.jmfl.com/od/UploadedFiles/D85CD184-902B-431E-8620-18ABC2F68BE8.pdf
Mumbai, December 03, 2025 ( TGN ): Corona Remedies Limited (CRL) will open the Bid / Offer in relation to its initial public offering (IPO) of the Equity Shares on Monday, December 08, 2025. The Bid/Offer will close on Wednesday, December 10, 2025. The Price Band has been fixed at ₹1,008 to ₹1,062 per Equity Share. JM Financial Limited, IIFL Capital Services Limited and Kotak Mahindra Capital Company Limited are the Book Running Lead Managers to the Offer.
The Anchor Investor Bidding Date shall be on Friday, December 05, 2025. Bids can be made for a minimum of 14 Equity Shares and in multiples of 14 Equity Shares thereafter. The Offer comprises an offer for sale (OFS) of Up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹6,553.71 million.
The OFS comprises of up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹1,298.41 million by Dr. Kirtikumar Laxmidas Mehta (Promoter Selling Shareholder); Up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹766.07 million by Minaxi Kirtikumar Mehta (Promoting Group Selling Shareholder); Up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹103.87 million by Dipabahen Niravkumar Mehta (Promoting Group Selling Shareholder); Up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹103.87 million by Brinda Ankur Mehta (Promoting Group Selling Shareholder) & Up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹ 4,046.00 million by Sepia Investments Limited (Investor Selling Shareholder) ; Up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹151.25 million by Anchor Partners (Investor Selling Shareholder); Up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹84.24 million by Sage Investment Trust (Investor Selling Shareholder).
A discount of ₹ 54 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
The Equity Shares, offered through the Red Herring Prospectus of the Company (“RHP”) are proposed to be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE” and together with NSE, the “Stock Exchanges”).
Corona Remedies is an India-focused branded pharmaceutical formulation company engaged in developing, manufacturing and marketing products in women’s healthcare, cardio-diabeto, pain management, urology and other therapeutic areas. The company has a diversified product portfolio comprising 71 brands catering to a range of therapeutic areas as of June 30, 2025.
According to the CRISIL Intelligence Report, Corona Remedies is the fastest growing company among the top 30 companies in the Indian Pharmaceutical Market (“IPM”) in terms of domestic sales in the IPM, between MAT June 2024 and MAT June 2025. *MAT is the moving annual total. Corona Remedies was the second fastest growing company among the top 30 companies in the IPM in terms of domestic sales between MAT June 2022 and MAT June 2025.
• Women’s healthcare: Brands across the women’s healthcare lifecycle, from adolescence to infertility, pregnancy, post-pregnancy and pre- and post-menopause categories;
• Cardio-diabeto: Brands across different stages of diabetes treatment, ranging from insulin resistance,pre-diabetes to diabetes and diabetes-related complications, as well as cardiac disorders such as hypertension,dyslipidemia and ischemic heart disease;
• Pain Management: Four dosage forms in pain management formulations, which the company offers in the form of tablets, capsules, sprays and injections for treatments associated with musculoskeletal spasms and diabetes neuropathy pain, among others.
• Urology: Brand offerings across multiple urological disorders, such as benign prostatic hyperplasia,overactive bladder, urinary tract infections and stone management, overactive bladder, urinary tract infections and stone management.
The IPO is an Offer in terms of Rule 19(2)(b) of the SCRR, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in terms of Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs and such portion, the “QIB Portion”), provided that the Company, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”), out of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations.
In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.
Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders (“Non Institutional Portion”) of which (a) one third of the Non-Institutional Portion shall be reserved for Bidders with an application size of more than ₹200,000 and up to ₹1,000,000 and (b) two-thirds of the Non-Institutional Portion shall be reserved for Bidders with an application size exceeding ₹1,000,000 provided under-subscription in either of these two sub-categories of Non-Institutional Portion may be allocated to Bidders in the other subcategory of Non-Institutional Portion, and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price.
