Corona Remedies IPO Day 1: 62% Subscribed, Retail 87%; GMP at 25%

• Corona Remedies IPO subscribed 62% on Day 1, with retail portion booked 87% and NIIs at 79%.
• The IPO received bids for 28.17 lakh shares against an offer size of 45.72 lakh shares.
• Grey Market Premium (GMP) for Corona Remedies IPO is nearly 25% over the IPO price, down from 34%.
• The IPO aims to raise over Rs 655 crore through an Offer For Sale (OFS) with no fresh issue component.
• Price band is Rs 1,008-1,062 per share; bidding open from Dec 8-10, listing on Dec 15.

Why It Matters: It shows initial investor interest and market sentiment for a new pharmaceutical IPO.