Corona Remedies IPO Day 2: Issue subscribed nearly 4x; GMP at 25% premium

• Corona Remedies IPO subscribed 3.50 times on Day 2, with bidding open until December 10.
• Retail investors subscribed 3.42x, non-institutional investors 8.33x, and qualified institutional buyers 6% of their portions.
• The IPO aims to raise ₹655.37 crore through a pure Offer For Sale (OFS) of 61.71 lakh shares.
• The price band is set at ₹1,008 to ₹1,062 per share, with shares expected to list on December 15.
• Corona Remedies is an India-focused branded formulations company, showing strong domestic sales growth.

Why It Matters: It signals a new investment opportunity in the growing pharmaceutical sector.