Corona Remedies surges up to 41% on debut underscoring local demand for new stocks

Corona Remedies share price rose as much as 41.14% over the IPO price of ₹1,062 to an intraday high of ₹1,499 apiece, after listing at 36.72% premium.

Drugmaker Corona Remedies Ltd. debuted at a premium on the stock market today, underscoring demand for new stocks among domestic investors.

A 40% surge in Corona Remedies' share price gave the company a market capitalisation of nearly ₹9,000 crore. (HT)

After listing at 36.72% premium, Corona Remedies share price rose as much as 41.14% over the IPO price of ₹1,062 to an intraday high of ₹1,499 apiece on the BSE, according to stock market data. That gave the company a market capitalisation of nearly ₹9,000 crore.

Headquartered in Ahmedabad, Gujarat, Corona Remedies is a pharmaceutical formulation company focused on women's healthcare. Its 8-10 December ₹650 crore IPO had received 137.04 times subscription.