The initial share sale of Corona Remedies, which opened for subscription on December 8, was subscribed 3.50 times on the second day of bidding. The pharma company's maiden issue will remain open for bidding until December 10.

The IPO received bids for 1.60 crore shares against the offer size of 45.72 lakh shares, according to NSE data. Retail investors have taken up 3.42 times their quota, while non institutional investors have subscribed 8.33 times their portion. Qualified institutional buyers' portion have been booked 6% so far.

In the unlisted market, Corona Remedies shares were trading at a premium of 25% to the IPO price. However, grey market premiums only indicate sentiment in the unofficial market and tend to fluctuate sharply.

The company has set a price band of ₹1,008 to ₹1,

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