Corona Remedies Unveils Blockbuster ₹8,000 Million IPO-Pharma Giant’s Big Leap to Dalal Street

Corona Remedies, a prominent player in the Indian pharmaceutical sector, has announced the launch of its Initial Public Offering (IPO), with existing shareholders set to divest shares worth ₹8 billion. The offering is structured as an offer-for-sale (OFS), meaning no new shares will be issued and the proceeds will go directly to the selling shareholders.

 

JM Financial and IIFL Capital Services have been appointed as the book-running lead managers for this IPO, leveraging their extensive experience in managing large public offerings in India. The move allows existing stakeholders to unlock value and provides an opportunity for new investors to participate in the company’s growth story.

 

The IPO is expected to attract significant interest from institutional and retail investors, given Corona Remedies’ established market presence and the robust demand for pharmaceutical stocks in the Indian market. The details regarding the price band, bidding dates, and allocation will be released soon as the company seeks regulatory approvals and moves forward with the listing process.

 

This development marks a significant milestone for Corona Remedies and reflects the continued vibrancy of India’s capital markets.

 

Source: Economic Times Legal, Trilegal, JM Financial