CORONA Remedies IPO: Should you apply?

Summary: CORONA Remedies, a pharma company, is set to go public on December 8, 2025. Let’s break down the company’s strengths, weaknesses and past performance to help you decide whether its IPO is worth your money. CORONA Remedies, a pharmaceutical formulation company, will open its IPO (initial public offering) on December 8, 2025 and close on December 10, 2025. Its issue size, worth Rs 655 crore, will entirely be an offer for sale (OFS). Here, we analyse the company’s strengths, weaknesses, financial track record and past valuations to help you make an informed investing decision. What the company does CORONA Remedies is a branded formulation company focused on women’s health, cardio-diabeto, pain management, urology and other specialty therapies. It is among the fastest-growing players in the Indian pharmaceutical market, with strong volume gains and steady new product launches being key growth drivers. The company markets 71 brands, anchored by 27 ‘engine’ brands that contribute over 70 per cent of domestic sales. Several of its core brands, including Myoril, Cor and Trazer, rank at the top of their respective sub-groups. Its portfolio is skewed towards chronic and sub-chronic therapies, which form about 70 per cent of domestic sales. Track record and valuation CORONA Remedies’ financial performance during FY23-25 shows that the company has been on steady ground. While revenue grew at over 16 per cent annually over the three-year period, net income (profit after tax) and EBIT (earnings before interest and tax) surged by 33 per cent and 37 per cent, respectively, during the same period. At the upper end of the price band (Rs 1,062), CORONA Remedies’ stock is expected to be valued at 43.5 times its FY25 earnings and 10.7 times its book value. In comparison, CORONA Remedies’ peers trade at a P/E and P/B of 40.7 times and 11 times, respectively. CORONA Remedies IPO Total IPO size (Rs cr) 655 Offer for sale (Rs cr) 655 Fresh issue (Rs cr) - Price band (Rs) 1,008-1,062 Subscription dates December 8-10, 2025 Purpose of issue Offer for sale Post-IPO M-cap (Rs cr) 6,495 Net worth (Rs cr) 607 Promoter holding (%) 69 Price/ear