Corona Remedies IPO: Check application status, allotment odds, GMP, listing date & more

Corona Remedies is scheduled to finalize the basis of allotment of its shares on Thursday, December 11. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate by Friday, December 12 or latest by weekend. The pharma player saw a muted response from the investors.

1. The IPO of Corona Remedies was open for bidding between December 08 and December 10. It had offered its shares in the price band of Rs 1,008-1,062 per share with a lot size of 14 shares. The company raised a total of Rs 655.37 crore from its IPO, which was entirely an offer-for-sale (OFS) of up to 61,71,101 equity shares.

The issue was subscribed a whopping 137.04 times, attracting bids worth over Rs 66,500 crore via over 41.87 lakh applications. The portion for qualified institutional bidders (QIBs) was booked 278.52 times, while the quota for non-institutional investors (NIIs) was subscribed 208.88 times. The allocations for retail investors and employees were subscribed 28.73 times and 14.72 times, respectively.

Here is the tentative odds allotment matrix in Cororna Remedies IPO for the investors:

• Big HNI category: 1 investor out of 50 investors will get 196 shares (Probability: 2 per cent)
• Small HNI category: 1 investor out of 158 investors will get 196 shares (Probability: 0.63 per cent)
• Retail category: 1 investor out of 23 investors will get 14 shares. (Probability: 4.35 per cent)

Incorporated in August 2004, Ahmedabad-based Corona Remedies is a pharmaceutical company developing, manufacturing, and marketing products in women’s healthcare, cardiology, pain management, urology, and other therapeutic areas. It has a diverse portfolio of 71 brands with 2,671 medical representatives in 22 states.

The grey market premium of Corona Remedies has seen some rebound thanks to solid bidding and decent listings lately amid muted market sentiments in the listed markets. Last heard, the company was commanding a grey market premium (GMP) of Rs 295-300 apiece, suggesting a listing pop of 28 for the investors. The GMP stood around Rs 250-260 during the bidding process.

JM Financial, IIFL Capital Service and Kotak Mahindra Capital Company are the book running lead managers of Corona Remedies IPO and Bigshare Service is the registrar of the issue. Credit of shares and/or initiation of refund shall be done on Friday, December 12. Shares of the company shall be listed on both BSE and NSE with December 15 as the date of listing.

Investors, who had bid for the issue of Corona Remedies IPO, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select Corona Remedies Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of Bigshare Services Limited (https://ipo.bigshareonline.com/IPO_Status.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1. Go to the web portal of Bigshare Services Private Limited
2. Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3. You shall be required to select either one of the three modes: Application number/CAF No, Beneficiary ID, or PAN ID.
4. Enter the details of the mode you selected in Step 2
5. For security purposes, fill the captcha accurately
6. Hit Search to know your allotment status.