Corona Remedies Shares Make Remarkable Market Debut; Jump over 35%

Making a remarkable market debut, shares of pharma firm Corona Remedies Ltd closed with a premium of over 35 per cent against the issue price of Rs 1,062 per share on Monday.

The stock started trading at Rs 1,452, a jump of 36.72 per cent from the issue price on the BSE. During the day, it surged 41.14 per cent to Rs 1,499 before settling at Rs 1,437.20, up 35.32 per cent.

At the NSE, shares listed at a premium of 38.41 per cent at Rs 1,470. Shares of the firm ended at Rs 1,438.40, a jump of 35.44 per cent.

The company's market valuation stood at Rs 8,789.93 crore.

In volume terms, 16.33 lakh shares of the firm were traded at the BSE and 128.89 lakh shares on the NSE during the day.

The initial public offering of Corona Remedies received 137.04 times subscription last week. The Rs 655.37-crore Initial Public Offering (IPO) was priced at 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-diabetes, pain management, urology and other therapeutic areas.