| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹1008 to ₹1062 | 14 | 08th Dec, 2025 –10th Dec, 2025 | ₹655.37 Cr |
Corona Remedies Ltd
Corona Remedies Ltd. is an India-focused branded formulations player with a strong presence in women’s healthcare, cardio-diabetes, pain management, urology and other multispecialty therapies. Backed by a diversified portfolio of 71 brands and a proven brand-building capability, it has emerged as one of the fastest-growing companies in the Indian Pharmaceutical Market (IPM). As per CRISIL, it recorded the fastest growth among the top 30 IPM companies during MAT Jun’24-Jun’25, delivering a domestic sales CAGR of 13.6% vs. IPM’s 7.9%, and was the second fastest-growing over MAT Jun’22-Jun’25 with a CAGR of 16.8% vs. IPM’s 9.2%. Growth has been supported by substantial volume expansion (5.7%) and an above-market contribution from new launches (4.6%). The company’s business is anchored by 27 “engine brands”, contributing over 72% of domestic sales (MAT Jun’25), including leadership brands such as Myoril, Cor, Trazer, Cor-9 and B-29. Several top brands hold #1-to #5 rankings in their respective IPM subgroups, underscoring substantial franchise equity. Chronic and sub-chronic therapies are gaining share, rising from 63.8% (MAT Jun’22) to 70.1% (MAT Jun’25), and this segment is delivering a robust 20.5% CAGR, more than twice the IPM growth rate. The company’s differentiated commercial strategy, focusing on the middle of the pyramid and specialist doctors, has significantly strengthened its prescription base. Specialists/super-specialists account for ~76% of prescriptions (vs. IPM’s 61%), driving an improvement in market rank from #37 (MAT Jun’22) to #29 (MAT Jun’25). It is currently the 17th largest in its covered markets and holds strong positions across key therapies: #6 in women’s health, #22 in cardiology-diabetes, #5 in pain management, and #9 in urology. A pan-India field force of 2,671 medical representatives across 22 states ensures deep market penetration. The company continues to enhance manufacturing capabilities through two formulation plants (Gujarat and Himachal Pradesh) with an installed capacity of 1.29 billion units. It is commissioning a hormone formulation facility (expected in FY27). R&D strength is supported by two DSIR-recognized centres with over 100 personnel, focusing on formulation development, process optimization and product lifecycle management.
Objective of the Corona Remedies Ltd IPO
The net proceeds from the fresh issue will be used towards the following purposes:
- The company will not receive any proceeds from the offer and all the offer proceeds will be received by the selling shareholders after deduction of offer related expenses and relevant taxes thereon to be borne by the respective selling shareholders.;
- General corporate purposes.
Rationale To Corona Remedies Ltd IPO
Second fastest-growing among top 30 pharma players, ready to ride India’s growth wave
The company is one of the fastest-growing players in the Indian pharmaceutical market, ranking second in growth among the top 30 domestic pharma companies between MAT June 2022 and MAT June 2025. Its strong 16.8% domestic sales CAGR, which significantly outpaces IPM’s 9.2% growth, reflects superior execution across key therapeutic areas, including women’s health, cardiology, pain management, and urology. A differentiated portfolio strategy, focused on high-growth chronic and speciality segments, has driven meaningful scale-up in brand leadership, with the company achieving the largest rank improvement among the top 30 IPM players during the period. The company also leads in new product momentum, with a 14.4% share of launches above Rs. 50 mn higher than the top-30 peer set and the broader IPM, supported by a substantial 60% share of products in the growth stage of the lifecycle. With the domestic formulations market expected to grow at an 8-9% CAGR through FY30, led by rising chronic disease burden and increasing demand for gynaecology, cardiovascular-diabetes, and urology therapies, the company is well-positioned to benefit disproportionately from these structural tailwinds. Its focused presence in high-growth segments, brand-centric commercial model and strong pipeline collectively provide a robust platform for sustained outperformance in the Indian pharmaceutical market.
Diversified portfolio with engine brands to accelerate growth
The company offers a highly diversified and fast-growing branded formulations portfolio across women’s healthcare, cardio-diabeto, pain management and urology, with these four targeted therapy areas as contributing ~67-68% of domestic sales and delivering a strong 22-24% CAGR over MAT FY22-FY25, significantly outperforming the IPM. Leadership positions across key brands reinforce its competitive strength: Myoril, COR and Trazer ranked #1; COR-9, Alkashot and Stimucor ranked #3; Argihope and Evtab ranked #4; and B-29, C-HOP and Bisobis ranked #5 in their respective sub-groups. The strategic acquisition of Myoril has further accelerated growth, driving ~52-90% revenue expansion, strengthening the pain management portfolio. A strong brand-building track record underpins the company’s performance, with 27 “engine” brands, contributing ~72% of revenues and growing at an impressive 20.7% CAGR. Twelve of these engine brands rank among the top five in their categories, demonstrating deep franchise equity and robust marketing capabilities. At the same time, a rising share of chronic and sub-chronic therapies from 63.8% to 70.1% over three years enhances revenue visibility, stability and profitability, with this segment growing at 20.5% CAGR, more than double the broader IPM. Overall, the company’s strong leadership across key therapy clusters, brand-driven growth engine, expanding presence in chronic/sub-chronic therapies, and acquisitions and in-licensing partnerships collectively position it for sustained growth.
Valuation of Corona Remedies Ltd IPO
Corona Remedies Limited is an India-focused branded formulations company with a significant presence in women’s healthcare, cardiovascular diabetology, pain management, urology, and related therapies. Corona Remedies ranks as the second fastest-growing pharma company among India’s top 30 by domestic sales, delivering a strong 22-24% CAGR over MAT FY22-FY25, significantly outperforming the IPM. With the Indian domestic formulations market expected to grow at 8-9% CAGR through FY2030, led by higher chronic disease prevalence, rising healthcare access, and strong growth in gynecology, cardio-diabetes and urology therapies, the company stands to benefit disproportionately given its high exposure to these faster-growing segments. Corona Remedies is well-positioned to leverage this growth, demonstrated by its strong domestic franchise and a healthy growth in the broader Indian market. The company offers an opportunity to invest in a growth-oriented, domestic-branded pharma with a robust presence across core therapies and exposure to secular growth trends in the Indian market. On the financial front, the company has demonstrated CAGR growth of 16%/37%/33% in Revenue/EBITDA/PAT between FY23 and FY25, led by continued momentum in chronic/sub-chronic therapies, ramp-up of recent acquisitions such as Myoril, and differentiated in-licensing partnerships, further strengthening long-term earnings potential. Overall, the company’s strong growth profile, leadership in high-value therapies, and alignment with sector tailwinds support a positive long-term outlook, positioning it well to capture above-industry growth. At the upper end of the price band at Rs. 1,062, the company is valued at a P/E multiple of 43.5x FY25 earnings. We, thus, recommend a “SUBSCRIBE” rating for this issue.
What is the Corona Remedies Ltd IPO?
The initial public offer (IPO) of Corona Remedies Ltd offers an early investment opportunity in Corona Remedies Ltd . A stock market investor can buy Corona Remedies Ltd IPO shares by applying in IPO before All Corona Remedies Ltd shares get listed at the stock exchanges. An investor could invest in Corona Remedies Ltd IPO for short term listing gain or a long term.
How to apply for the Corona Remedies Ltd IPO through StoxBox?
To apply for the Wakefit Innovations Ltd IPO through StoxBox one can apply from the website and also from the app. Click here
When will the Corona Remedies Ltd IPO open?
Corona Remedies Ltd IPO is opening on 08th Dec 2025. Apply Now
What is the lot size of the Corona Remedies Ltd IPO?
The Lot Size of Corona Remedies Ltd IPO is 14 equity shares. Login to your account now.
When is the Corona Remedies Ltd allotment date?
The allotment Date for Corona Remedies Ltd IPO is 11th Dec 2025. Login to your account now.
When is the Corona Remedies Ltd IPO listing date?
The listing Date for Corona Remedies Ltd IPO is 15th Dec 2025. Login to your account now
What is the minimum investment required for the Corona Remedies Ltd IPO?
In the Retail segment the minimum investment required is Rs. 14,868. Login to your account now
What is the maximum investment allowed for the Corona Remedies Ltd IPO?
In the Retail segment the maximum investment requirement is Rs. 1,93,284. Login to your account now
What are the risks associated with investing in the Corona Remedies Ltd IPO?
- The company’s substantial revenue is derived from women’s healthcare, cardiovascular-diabetes, and pain management, accounting for 65.1% of Q1FY26 revenue. Any underperformance of products in these segments, or increased competition, could materially impact the company’s revenue, profitability, and cash flows.
- The company’s 27 engine brands contribute 72.34% of domestic sales (MAT Jun’ 25), with significant reliance on key brands such as B-29 and Myoril. Any adverse developments impacting the performance, market acceptance or competitive positioning of these core brands could materially affect the company’s business, financial performance and cash flows.
- The company’s domestic sales exhibit a high regional concentration, with Gujarat, Maharashtra, Chhattisgarh, Goa, and Madhya Pradesh collectively accounting for 47.30% of MAT Jun ’25 revenues. This concentration heightens exposure to region-specific disruptions, including regulatory actions, competitive intensification, supply-chain constraints, which could materially affect sales traction in these key markets and, in turn, weigh on the overall business performance, financial outcomes and cash flow stability.
When will the Corona Remedies Ltd IPO shares be credited to my Demat account?
The Corona Remedies Ltd IPO be credited to the account on allotment date which is 12th Dec 2025. Login to your account now
Where can I find the Corona Remedies Ltd IPO prospectus?
The prospectus of Corona Remedies Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE
