Overview
- Both mainboard IPOs opened on Dec. 8 with light first‑day demand, as Corona Remedies was about 11% subscribed by 10:33 a.m. and Wakefit around 10% by midday.
- Corona Remedies’ Rs 655.37 crore issue is a full offer‑for‑sale at Rs 1,008–1,062 per share, so proceeds go to selling shareholders rather than the company.
- Wakefit’s Rs 1,288.89 crore offering combines a Rs 377.18 crore fresh issue with an OFS, priced at Rs 185–195, with funds earmarked for new stores, capex, marketing and general corporate purposes.
- Grey‑market indicators showed a stronger unofficial premium for Corona at about Rs 290 (roughly 27% over the upper band), versus a softer range reported for Wakefit near Rs 16–36; GMPs are speculative and not official.
- Brokerages broadly recommended subscribing to Corona on the back of profitable FY25 metrics, while views on Wakefit were mixed with several ‘avoid’ calls citing valuation and profitability; bidding closes Dec. 10 with allotment on Dec. 11 and listing planned for Dec. 15.