Corona Remedies shares make remarkable market debut; jump over 38 pc

Shares of pharma firm Corona Remedies Ltd made a remarkable market debut on Monday, listing with a premium of over 38 per cent, against the issue price of Rs 1,062.

The stock started trading at Rs 1,452, a jump of 36.72 per cent from the issue price on the BSE. Later, it surged 41.14 per cent to Rs 1,499.

At the NSE, it listed with a premium of 38.41 per cent at Rs 1,470.

The company's market valuation stood at Rs 8,996.65 crore.

The initial public offering of Corona Remedies received 137.04 times subscription on the closing day of share sale on Wednesday last week.

The Rs 655.37-crore Initial Public Offering (IPO) had a price band of Rs 1,008-1,062 per share.

Headquartered in Ahmedabad, Corona Remedies is a pharmaceutical formulation company engaged in developing, manufacturing and marketing products in women's healthcare, cardio-diabeto, pain management, urology and other therapeutic areas.

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