Corona Remedies Aims for Rs 800-Crore IPO Launch

Pharmaceutical company Corona Remedies has filed for a Rs 800-crore IPO with SEBI. The offering is entirely an offer for sale with promoters and investors such as Sepia Investments and Anchor Partners offloading shares. The firm specializes in women's healthcare, cardio-diabeto, and other therapeutic areas.

Corona Remedies, a pharmaceutical firm, has filed for an initial public offering (IPO) worth Rs 800 crore with India's market regulator, SEBI. The IPO, as outlined in the draft red herring prospectus, is solely an offer for sale, meaning no new securities will be issued.

Existing investors, including Sepia Investments, Anchor Partners, and Sage Investment Trust, intend to sell their shares through the offer for sale route. Corona Remedies will not receive any funds from this public issue since it does not involve any fresh issue of shares.

The company is known for developing, manufacturing, and marketing a diverse range of pharmaceutical products, focusing on women's healthcare, cardio-diabeto, and urology, among other areas. JM Financial, IIFL Capital Services, and Kotak Mahindra Capital Company have been appointed as the lead managers for the market offering.

(With inputs from agencies.)