SAM, JSA act on CORONA Remedies ₹655 crore IPO

CORONA Remedies Limited has made an initial public offering of equity shares aggregating to ₹655.38 crore, comprising an offer for sale of 6,174,051 equity shares by the promoter selling shareholder, promoter group selling shareholders and investor selling shareholders.

Shardul Amarchand Mangaldas & Co advised CORONA Remedies, Dr. Kirtikumar Laxmidas Mehta (Promoter Selling Shareholder), Minaxi Kirtikumar Mehta, Dipabahen Niravkumar Mehta, Brinda Ankur Mehta (Promoter Group Selling Shareholders) and Sepia Investments Limited, Anchor Partners and Sage Investment Trust (investor selling shareholders), on this IPO.

The transaction team advising the Company and Promoters was led by Prashant Gupta (National Practice Head – Capital Markets) and Devi Prasad Patel (Partner), with support from Sridutt Mishra (Senior Associate), Associates Anoop Mukundan and Rudraksh Karnik.

The corporate team advising the investor selling shareholders was led by Karun Prakash (Partner), Sangamitra Sankaraiah (Partner), along with Anshul Chopra (Principal Associate).

The capital markets team advising the investor selling shareholder was led by Manjari Tyagi (Partner) Jheel Bhargava (Senior Associate) and Bhumika Panigrahi (Associate).

Deeksha Dhingra (Associate) provided support.

JSA Advocates & Solicitors advised the book running lead managers JM Financial Limited, IIFL Capital Services Limited and Kotak Mahindra Capital Company Limited, on this IPO.

The transaction team was led by Arka Mookerjee (Partner) with support from Anshu Bansal (Partner), Sagar Batra (Partner), Kairav Parikh (Principal Associate), Vatsla Varandani (Senior Associate), Bhavini Mohan (Senior Associate) and Associates Shreya Sharma, Ayushi Pandit, Ritu R Jaiswal and Aryaman Singh.

CORONA Remedies Limited is the India-focused branded pharmaceutical formulation company engaged in developing, manufacturing and marketing products in women’s healthcare, cardio-diabeto, pain management, urology and other therapeutic areas.

The IPO received an overwhelming response from investors, with the issue being subscribed over 137.04 times.

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