Corona Remedies is set to debut on the stock exchanges today, December 15, following an exceptionally strong response from investors during its IPO subscription period. The public issue witnessed massive demand, with bids received for over 626 crore shares against just 45.71 lakh shares available, resulting in an overall subscription of 137.04 times.
Qualified Institutional Buyers dominated the bidding, subscribing to their portion 278.52 times. By the final day, QIBs had placed bids for nearly 35.9 crore shares, far exceeding the 12.89 lakh shares allocated to them.
Market experts expect a strong listing. Arun Kejriwal of Kejriwal Research anticipates the stock could debut at a premium of ₹260–₹270, implying an opening price around ₹1,322–₹1,332. He advised that investors may consider booking profits if the stock lists strongly, unless it sustains higher levels.
Shivani Nyati of Swastika Investmart expects a 25–27 percent listing gain, with prices near ₹1,330–₹1,350. She recommends partial profit booking for short-term investors, while long-term investors may hold due to the company’s solid fundamentals.
Meanwhile, the IPO’s grey market premium has surged to ₹342.5, indicating an estimated listing price of about ₹1,404.5, roughly 32 percent above the issue price of ₹1,062.
