New Delhi, Dec. 8 -- The initial public offering (IPO) of pharma company Corona Remedies opened for public subscription on December 8 and will close on Wednesday, December 10.

The price band for the Corona Remedies IPO has been set between Rs.1,008 and Rs.1,062 per equity share. Retail investors can apply for a minimum of one lot of 14 shares, requiring an investment of Rs.14,868 at the upper end. Bids can be placed in multiples of 14 shares thereafter.

The Rs.655.37 crore issue is entirely an offer for sale of 0.62 crore shares with no fresh issuance. Existing shareholders, including Sepia Investments, Anchor Partners and Sage Investment Trust, will divest part of their stake. Since the IPO is a pure OFS, the company will not receive a...