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Corona Remedies Ltd., which launched its initial public offering (IPO) on Monday, December 8, saw its grey market premium fall sharply amid market volatility, as the Sensex slipped by over 700 points. The mainboard offer was subscribed 0.62 times on Day 1.

The Ahmedabad-based pharmaceutical company, which develops, manufactures, and markets products across multiple therapeutic segments, including women’s health, cardiology, pain management, and urology, saw its grey market premium (GMP) topping the 'Business and Finance' trending charts at the start of the day yesterday, indicating strong investor interest.

On Day 1 of subscription, the grey market premium for the IPO has declined by up to 28% from a high

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