The primary market witnessed contrasting investor appetite on Wednesday, with Corona Remedies’ drawing overwhelming interest at 137.04 times subscription, while Wakefit Innovations’ offering garnered a more moderate but healthy 2.52 times. Strong participation from institutional buyers powered the surge in Corona Remedies, whereas retail investors drove momentum in Wakefit’s issue
Corona Remedies: Strong momentum across categories
Corona Remedies’ offering drew powerful traction, particularly from non-institutional investors.
The QIB category was subscribed 278.52 times, reflecting exceptionally strong institutional confidence, while NIIs oversubscribed the issue by 208.88 times, indicating aggressive bidding from HNIs and funds. The retail segment also showed solid interest at 28.73 times, and the employee quota was subscribed 14.72 times, underscoring widespread participation across investor groups.
The ₹655.37-crore IPO is a pure offer for sale, without a fresh component. It had a price band of ₹1,008–₹1,062 per share with a lot size of 14 shares.
The company had earlier allotted shares to anchor investors at the upper end of the price band, raising close to ₹195 crore. Since no fresh shares are being issued, the IPO proceeds will go entirely to selling shareholders.
Market expectations for the listing have turned increasingly optimistic, with investor response indicating confidence in the company’s branded formulations business and growth prospects.
Wakefit Innovations: Retail drives subscription
Wakefit Innovations’ IPO also gained traction on the last day of bidding and fetched 2.52 overall subscription.
The QIBs segment and retail were booked 3.04 times and 3.17 times, respectively. NIIs were subscribed 1.05 times.
Wakefit’s IPO is a significantly larger IPO ₹1,289 crore at a price band of ₹185–₹195 per share, with market lot size of 76 shares and multiples thereof.
Wakefit’s offer includes fresh issue of ₹377.18 crore and an OFS of 4.67 crore shares worth about ₹912 crore, earmarked for expanding its omni-channel presence, strengthening manufacturing capabilities, opening new COCO stores including a jumbo-format outlet, and meeting brand-building and general corporate needs.
The company raised around ₹580 crore from institutional buyers. Despite this, the live QIB portion remained muted by midday, tempering expectations of a strong listing pop unless demand accelerates before close.
With both IPOs closing today, market observers note that Corona Remedies appears on track for an oversubscribed finish that could support a healthy listing.
Wakefit, on the other hand, may need a late surge in institutional bids to shift sentiment meaningfully. Retail appetite has been firm, but institutional participation is typically the key determinant of listing-day strength.
Both the stocks will list on bourses on December 15, 2025.