Corona Remedies' Rs 655-cr IPO subscribed 62% on Day 1

• Corona Remedies' Rs 655 crore IPO was subscribed 62% on its first day.
• The three-day IPO, ending December 10, saw RIIs subscribe 87% and NIIs 79%, with no QIB participation yet.
• The Rs 655.37 crore public offering is entirely an Offer for Sale (OFS) by promoters and existing investors, with the company not receiving any proceeds.
• Backed by ChrysCapital, the pharma firm mobilised Rs 195 crore from anchor investors and is valued at nearly Rs 6,500 crore.
• Corona Remedies, an Ahmedabad-based pharma company with 67 brands, is set to debut on the stock market on December 15.

Why It Matters: It reflects the initial market reception for Corona Remedies' IPO.