The two mainboard IPOs currently open for subscription are witnessing markedly different investor interest on Day 2.
While pharma company Corona Remedies is seeing robust demand with an overall subscription of 2.89 times as of 12:24 pm, home-and-furnishings player Wakefit Innovations is off to a slower start, drawing only 0.27 times subscription.
Corona Remedies IPO oversubscribed by strong NII and retail participation
Corona Remedies’ ₹655.37-crore IPO continued to attract significant traction from investors, particularly non-institutional bidders.
The issue was subscribed 2.89 times overall at 12.24 pm on December 9, 2025. QIB demand remained muted at 0.04 times, while NIIs subscribed 6.50 times. Retail investors bid 2.99 times and the employee portion was subscribed 2.47 times.
The IPO is entirely an offer for sale by promoters and existing investors, including Sepia Investments, Anchor Partners and Sage Investment Trust.
With a price band of ₹1,008–₹1,062 per share, the company is valued at around ₹6,500 crore. Since the issue is purely an OFS, the company will not receive any proceeds, and all funds will go to selling shareholders.
The company had earlier mobilised ₹195 crore from anchor investors before the issue opened.
The stock is slated to debut on the stock exchanges on December 15, 2025. Broking firms note the company’s diversified portfolio and strong presence in chronic therapies as positives but caution that the IPO’s fully priced nature and absence of a fresh issue may limit listing gains. Still, sentiment remains favourable given the strong subscription from NIIs and retail investors.
Wakefit Innovations IPO: mild response despite strong anchor book
Wakefit Innovations’ ₹1,289-crore IPO saw modest participation by midday on Day 2, even after raising ₹580 crore from anchor investors.
The overall subscription stood at 0.27 times or 27 per cent at 12.24 pm. QIBs were yet to participate, NIIs subscribed 0.13 times, and retail investors bid 1.30 times.
The public issue includes a fresh issue of ₹377.18 crore and an OFS of 4.67 crore shares worth about ₹912 crore. Promoters Ankit Garg and Chaitanya Ramalingegowda, along with financial investors such as Peak XV Partners, Verlinvest, Redwood Trust and SAI Global India Fund, are offloading shares.
Wakefit plans to utilise ₹31 crore for opening 117 new COCO-Regular stores, ₹15.4 crore for machinery purchases, ₹161.4 crore toward lease-related expenses for existing stores, and ₹108.4 crore for marketing and brand-building. The balance will go toward general corporate purposes.
The stock will list on December 15, 2025. Analysts acknowledge the company’s strong brand equity and expansion trajectory but remain cautious about its aggressive retail rollout and rising operating costs.
Published on December 9, 2025
